The 'stagflation' is a combination of: MCQ with Answer and Explanation

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The 'stagflation' is a combination of:

A. high inflation and high unemployment

B. low inflation and high unemployment

C. high inflation and low unemployment

D. low inflation and low unemployment

Answer: Option A

Solution (By JKSSB Mock Tests)

Stagflation is high inflation combined with high unemployment and stagnant demand.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'multiplier-accelerator interaction' explains:

A. business cycles and fluctuations in income

B. inflation only

C. exchange rates

D. monetary policy only

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Correct Answer: Option A

Explanation:
Multiplier-accelerator interaction explains cyclical fluctuations in income.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Safeguard duty' is imposed under WTO rules to:

A. promote free trade

B. permanently ban imports

C. temporarily protect domestic industry from a sudden surge in imports

D. tax all exports

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Correct Answer: Option C

Explanation:
Safeguard duty is a temporary measure to protect domestic industry from an import surge.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on penal interest on loans is:

A. 18%

B. 12%

C. 0%

D. exempt

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Correct Answer: Option D

Explanation:
Penal interest on loans is exempt from GST.

This question belongs to: Economy GK Economy Set 1

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