The 'Index of Industrial Production' covers which sectors? MCQ with Answer and Explanation

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The 'Index of Industrial Production' covers which sectors?

A. Mining, manufacturing and electricity

B. Agriculture and forestry

C. Services

D. Only manufacturing

Answer: Option A

Solution (By JKSSB Mock Tests)

IIP covers mining, manufacturing and electricity.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'Atal Mission for Rejuvenation and Urban Transformation' was launched in:

A. 2014

B. 2015

C. 2016

D. 2017

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Correct Answer: Option B

Explanation:
AMRUT was launched in 2015.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Goods and Services Tax' on betting and gambling is:

A. 5%

B. 18%

C. 28%

D. 12%

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Correct Answer: Option C

Explanation:
Betting and gambling attract 28% GST.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'menu cost' of inflation refers to:

A. cost of printing new currency

B. cost to firms of changing prices frequently

C. cost of food

D. cost of borrowing

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Correct Answer: Option B

Explanation:
Menu cost is the cost firms incur in updating prices during inflation.

This question belongs to: Economy GK Economy Set 1

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