The 'menu cost' of inflation refers to: MCQ with Answer and Explanation

Question

Share Report Error

The 'menu cost' of inflation refers to:

A. cost of borrowing

B. cost of printing new currency

C. cost of food

D. cost to firms of changing prices frequently

Answer: Option D

Solution (By JKSSB Mock Tests)

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

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

The 'National Commission for Protection of Child Rights' is a:

A. judicial body

B. private body

C. statutory body

D. constitutional body

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
NCPCR is a statutory body under the Commissions for Protection of Child Rights Act, 2005.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Pradhan Mantri Ujjwala Yojana' aims to provide:

A. broadband connectivity

B. LPG connections to poor households

C. electricity connections

D. water connections

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
PMUY provides free LPG connections to poor households to promote clean cooking fuel.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Index of Industrial Production' uses which base year currently?

A. 2015-16

B. 2011-12

C. 2004-05

D. 2019-20

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
IIP uses base year 2011-12.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs