The 'Rs 2000 note' in India was introduced after demonetization in: MCQ with Answer and Explanation

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The 'Rs 2000 note' in India was introduced after demonetization in:

A. 2018

B. 2020

C. 2016

D. 2014

Answer: Option C

Solution (By JKSSB Mock Tests)

Rs 2000 note was introduced in November 2016 after demonetization.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' on banking services to government is:

A. 12%

B. 0%

C. 18%

D. 5%

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Correct Answer: Option C

Explanation:
Banking services to government attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The concept of 'Accelerator' in economics relates to:

A. Relationship between tax rate and revenue

B. Relationship between interest rate and saving

C. Relationship between money supply and prices

D. Relationship between change in income and change in investment

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Correct Answer: Option D

Explanation:
The accelerator principle states that investment depends on the rate of change of income or output. An increase in demand leads to a magnified increase in investment.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Wholesale Price Index' measures:

A. prices of services

B. retail prices

C. prices at the wholesale level

D. prices of consumer goods only

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Correct Answer: Option C

Explanation:
WPI measures price changes at the wholesale level.

This question belongs to: Economy GK Economy Set 1

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