Question : Inflation is measured by:
Option 1: Consumer Price Index (CPI)
Option 2: Wholesale Price Index (WPI)
Option 3: Both A and B
Option 4: None of the above
Correct Answer: Both A and B
Solution : The correct answer is (c) Both A and B
Inflation is measured by a) Consumer Price Index (CPI) and b) Wholesale Price Index (WPI). Both indices are commonly used to track and measure changes in the general price levels of goods and services in an economy over time. The Consumer Price Index focuses on retail prices paid by consumers for a basket of goods and services, while the Wholesale Price Index measures the average change in the prices of goods at the wholesale level. These indices provide valuable information about the rate of inflation and are widely used by policymakers, economists, and market participants to monitor and analyze price trends.
Question : Poverty in India is calculated using which consumption basket?
Option 3: Consumer Expenditure Survey (CES)
Option 4: Poverty Line Index (PLI)
Question : ___________ is a measure of the average prices of a basket of goods and services in an economy.
Option 1: Gross Domestic Product (GDP)
Option 2: Consumer Price Index (CPI)
Option 3: Wholesale Price Index (WPI)
Option 4: Money supply
Question : Which of the following is an example of human capital measurement?
Option 3: Human Development Index (HDI)
Option 4: Producer Price Index (PPI)
Question : Which of the following is a macroeconomic indicator?
Option 1: Consumer price index (CPI)
Option 2: Price elasticity of demand
Option 3: Market equilibrium price
Option 4: Marginal utility
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