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The Monetary System

Statement: Th...

Question

Statement: The cost of living has gone up in India.
Assumptions:
I. The price of essential commodities has gone up in recent times.
II. Many luxury goods are available in plenty in the country.

A

Only assumption I is implicit

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B

Only assumption II is implicit

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C

Either I or II is implicit

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D

Neither I nor II is implicit

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E

Both I and II are implicit

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Solution

The correct option is E Both I and II are implicit
The cost of living is directly associated with the prices of essential commodities. So, I is implicit. II denotes an essential consequence of rise in cost of living. So, II is also implicit.

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