The 'deflation' refers to: MCQ with Answer and Explanation

Question

Share Report Error

The 'deflation' refers to:

A. a fall in the rate of inflation

B. a sustained fall in the general price level

C. a fall in unemployment

D. a rise in inflation

Answer: Option B

Solution (By JKSSB Mock Tests)

Deflation is a sustained decline in the general price level.

This question belongs to: Economy GK Economy Set 1

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

Share Report

An inflationary gap exists when:

A. actual output is below potential output

B. aggregate demand exceeds full employment output

C. unemployment is high

D. aggregate demand is less than full employment output

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
An inflationary gap occurs when aggregate demand exceeds what the economy can produce at full employment.

This question belongs to: Economy GK Economy Set 1

Question #2

Share Report

The 'Goods and Services Tax' on engineering services is:

A. 18%

B. 5%

C. 12%

D. 28%

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
Engineering services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

Share Report

The 'Bretton Woods twins' refer to:

A. IMF and World Bank

B. ILO and WHO

C. UNESCO and FAO

D. WTO and UNCTAD

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
The IMF and World Bank are known as the Bretton Woods twins.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs