The 'hyperinflation' is: MCQ with Answer and Explanation

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The 'hyperinflation' is:

A. extremely rapid and uncontrolled price rise

B. falling prices

C. stable prices

D. slow price rise

Answer: Option A

Solution (By JKSSB Mock Tests)

Hyperinflation is extremely rapid and uncontrolled inflation.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Personal Disposable Income' is personal income minus:

A. customs duty

B. direct personal taxes and other deductions

C. indirect taxes

D. corporate tax

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Correct Answer: Option B

Explanation:
Personal disposable income is personal income minus direct personal taxes and other receipts of government.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'base year' for the current WPI series is:

A. 2004-05

B. 2019-20

C. 2015-16

D. 2011-12

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Correct Answer: Option D

Explanation:
The current WPI series uses base year 2011-12.

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following is NOT a component of the Union Budget of India?

A. Capital Budget

B. Finance Bill

C. Revenue Budget

D. Monetary Policy Statement

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Correct Answer: Option D

Explanation:
The Monetary Policy Statement is issued by the RBI. The Union Budget consists of the Revenue Budget, Capital Budget and related documents including the Finance Bill.

This question belongs to: Economy GK Economy Set 1

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