The 'core inflation' measure excludes: MCQ with Answer and Explanation

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The 'core inflation' measure excludes:

A. food and fuel

B. services

C. manufactured goods

D. imports

Answer: Option A

Solution (By JKSSB Mock Tests)

Core inflation excludes volatile food and fuel prices.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Goods and Services Tax' on actionable claims such as lottery, betting and gambling is:

A. 18%

B. 28%

C. 12%

D. 5%

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Correct Answer: Option B

Explanation:
Actionable claims like lottery, betting and gambling attract 28% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'International Bank for Reconstruction and Development' and International Development Association together are called:

A. United Nations

B. World Bank Group

C. World Bank (narrowly)

D. IMF

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Correct Answer: Option C

Explanation:
IBRD and IDA together are often referred to as the World Bank.

This question belongs to: Economy GK Economy Set 1

Question #3

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The first Narasimham Committee of 1991 was appointed to recommend reforms in:

A. capital markets only

B. indirect taxes

C. agricultural pricing

D. the financial system and banking sector

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Correct Answer: Option D

Explanation:
The Narasimham Committee was appointed to recommend financial system and banking sector reforms.

This question belongs to: Economy GK Economy Set 1

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