| Direction: Each of the next 10 questions consists of two statements one labeled as Assertion (A) and other as 'Reason (R). You are to examine these two statements carefully and select the correct answer. |
| Assertion (A) During inflation there is increase in money supply and rise in price level. |
| Reason (R) The rise in prices is due to shortage in supply of essential consumer goods. |
A) Both A and R are true and R is the correct explanation of A
B) Both A and R are true, but R is not the correct explanation of A
C) A is true, but R is false
D) A is false, but R is true
Correct Answer: B
Solution :
Both A and R are true individually, but R is not the correct explanation of A.
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