The 'personal consumption expenditure price index' is commonly used in which country? MCQ with Answer and Explanation

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The 'personal consumption expenditure price index' is commonly used in which country?

A. India

B. China

C. United States

D. Japan

Answer: Option C

Solution (By JKSSB Mock Tests)

The PCE price index is a primary inflation measure in the US.

This question belongs to: Economy GK Economy Set 1

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Question #1

The main emphasis of the Second Five Year Plan was:

A. rapid industrialization with emphasis on basic and heavy industries

B. eradication of illiteracy

C. reduction of population growth

D. rapid development of agriculture

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Correct Answer: Option A

Explanation:
The Second Plan emphasized rapid industrialization, especially basic and heavy industries.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'capability approach' to development was propounded by:

A. Arthur Lewis

B. W.W. Rostow

C. Milton Friedman

D. Amartya Sen

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Correct Answer: Option D

Explanation:
Amartya Sen propounded the capability approach to development.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' rate on luxury cars is:

A. 5%

B. 28%

C. 12%

D. 18%

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Correct Answer: Option B

Explanation:
Luxury cars attract 28% GST plus cess.

This question belongs to: Economy GK Economy Set 1

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