The 'rate of inflation' is measured as: MCQ with Answer and Explanation

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The 'rate of inflation' is measured as:

A. percentage change in price index from one period to another

B. change in price level over time divided by current price level

C. change in exchange rate

D. change in money supply

Answer: Option A

Solution (By JKSSB Mock Tests)

Inflation rate is the percentage change in a price index from one period to the next.

This question belongs to: Economy GK Economy Set 1

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The 'Goods and Services Tax' is a:

A. wealth tax

B. direct tax

C. capital gains tax

D. indirect tax

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Correct Answer: Option D

Explanation:
GST is an indirect tax on goods and services.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'State Bank of India' was created in 1955 by amalgamating which bank?

A. Bank of Bombay

B. Imperial Bank of India

C. Bank of Calcutta

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Correct Answer: Option B

Explanation:
The State Bank of India was formed in 1955 by taking over the Imperial Bank of India.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Bank of Japan' is the central bank of:

A. Japan

B. South Korea

C. China

D. Taiwan

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Correct Answer: Option A

Explanation:
The Bank of Japan is the central bank of Japan.

This question belongs to: Economy GK Economy Set 1

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