The 'reflation' refers to: MCQ with Answer and Explanation

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The 'reflation' refers to:

A. policy measures to stimulate the economy after a period of deflation or recession

B. increase in unemployment

C. reduction in money supply

D. a fall in prices

Answer: Option A

Solution (By JKSSB Mock Tests)

Reflation refers to policies to revive the economy after deflation or recession.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Pradhan Mantri Jan Dhan Yojana primarily aims at:

A. providing crop insurance

B. universal financial inclusion with bank accounts and RuPay cards

C. building infrastructure

D. providing pensions to all

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Correct Answer: Option B

Explanation:
PMJDY aims at financial inclusion by providing bank accounts, RuPay cards, overdraft and insurance.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Wholesale Price Index' in India is compiled by:

A. Office of Economic Adviser, Ministry of Commerce and Industry

B. Ministry of Finance

C. RBI

D. NITI Aayog

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Correct Answer: Option A

Explanation:
The WPI is compiled by the Office of Economic Adviser in the Ministry of Commerce and Industry.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Goods and Services Tax' on consulting services is:

A. 28%

B. 18%

C. 12%

D. 5%

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Correct Answer: Option B

Explanation:
Consulting services attract 18% GST.

This question belongs to: Economy GK Economy Set 1

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