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Page 1 • CPT Mercantile Law Chapter - 6 Select Aspects of Indian Economy • CA. Dipti Lunawat Inflation Unit V[ Part2/2] Page 2 • CPT Mercantile Law Chapter - 6 Select Aspects of Indian Economy • CA. Dipti Lunawat Inflation Unit V[ Part2/2] Question No.1 Inflation refers to persistent ______movement in general price level. [A] Downward [B] Upward [C] Volatile [D] Fluctuating Ans-B Page 3 • CPT Mercantile Law Chapter - 6 Select Aspects of Indian Economy • CA. Dipti Lunawat Inflation Unit V[ Part2/2] Question No.1 Inflation refers to persistent ______movement in general price level. [A] Downward [B] Upward [C] Volatile [D] Fluctuating Ans-B Question No.2 For inflation to occur average price increase should be at least ____per year. [A] 5% [B] 4% [C] 6% [D] 7% Ans-A Page 4 • CPT Mercantile Law Chapter - 6 Select Aspects of Indian Economy • CA. Dipti Lunawat Inflation Unit V[ Part2/2] Question No.1 Inflation refers to persistent ______movement in general price level. [A] Downward [B] Upward [C] Volatile [D] Fluctuating Ans-B Question No.2 For inflation to occur average price increase should be at least ____per year. [A] 5% [B] 4% [C] 6% [D] 7% Ans-A Question No.3 The price rise which occur because demand for goods and services is higher than their supply is called: [A] Demand pull inflation [B] Cost push inflation [C] Stagflation [D] Deflation Ans-A Page 5 • CPT Mercantile Law Chapter - 6 Select Aspects of Indian Economy • CA. Dipti Lunawat Inflation Unit V[ Part2/2] Question No.1 Inflation refers to persistent ______movement in general price level. [A] Downward [B] Upward [C] Volatile [D] Fluctuating Ans-B Question No.2 For inflation to occur average price increase should be at least ____per year. [A] 5% [B] 4% [C] 6% [D] 7% Ans-A Question No.3 The price rise which occur because demand for goods and services is higher than their supply is called: [A] Demand pull inflation [B] Cost push inflation [C] Stagflation [D] Deflation Ans-A Question No.4 ____refers to a situation where prices persistently rise because of growing factor costs. [A] Demand pull inflation [B] Cost push inflation [C] Stagflation [D] Deflation Ans-BRead More
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FAQs on MCQ - Inflation - Business Economics for CA Foundation
| 1. What is inflation and how is it measured? |  |
Ans. Inflation refers to the increase in the general level of prices for goods and services over a period of time. It reduces the purchasing power of money. Inflation is measured using various indices, such as the Consumer Price Index (CPI) or the Wholesale Price Index (WPI), which track the changes in prices of a basket of goods and services.
| 2. What are the causes of inflation? | |
Ans. Inflation can be caused by various factors, including an increase in the money supply, demand-pull inflation due to excessive consumer demand, cost-push inflation caused by an increase in production costs, such as wages or raw materials, and inflationary expectations among individuals and businesses.
| 3. How does inflation impact the economy and individuals? | |
Ans. Inflation can have both positive and negative impacts on the economy and individuals. On one hand, mild inflation can stimulate economic growth by encouraging spending and investment. On the other hand, high inflation erodes the purchasing power of money, reduces the value of savings, and can lead to economic instability. It can also increase the cost of borrowing and affect people on fixed incomes.
| 4. What are the measures taken by the central bank to control inflation? | |
Ans. Central banks use various monetary policy tools to control inflation. These include increasing interest rates to reduce borrowing and spending, tightening the money supply by selling government securities, adjusting reserve requirements for banks, and employing open market operations to influence liquidity in the economy. These measures aim to curb excessive inflation and maintain price stability.
| 5. How does inflation impact different sectors of the economy? | |
Ans. Inflation can impact different sectors of the economy differently. Some sectors, such as industries that produce essential goods like food and healthcare, may be less affected as the demand for these items tends to be relatively stable. However, sectors that rely heavily on imports or have high exposure to volatile raw material prices may experience greater cost pressures due to inflation. Businesses may pass on these increased costs to consumers, leading to higher prices for certain products and services.
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