The base year currently used for the Consumer Price Index in India is: MCQ with Answer and Explanation

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The base year currently used for the Consumer Price Index in India is:

A. 2016

B. 2001

C. 2012

D. 2004-05

Answer: Option C

Solution (By JKSSB Mock Tests)

The current CPI series has 2012 as the base year.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

In the context of money market, Treasury Bills are issued by:

A. Private corporations

B. Commercial banks

C. Reserve Bank of India on behalf of the government

D. Stock exchanges

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Correct Answer: Option C

Explanation:
Treasury Bills are short-term instruments issued by the RBI on behalf of the Government of India to meet short-term funding requirements.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Beti Bachao Beti Padhao' scheme aims to:

A. provide maternity benefits

B. prevent female foeticide and promote education of the girl child

C. promote male education

D. promote women's employment only

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Correct Answer: Option B

Explanation:
Beti Bachao Beti Padhao aims to address declining child sex ratio and promote girl child education.

This question belongs to: Economy GK Economy Set 1

Question #3

The concept of 'wealth effect' in consumption refers to:

A. consumption increasing when wealth increases

B. consumption increasing when debt increases

C. investment increasing when interest rates rise

D. saving increasing when wealth falls

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Correct Answer: Option A

Explanation:
The wealth effect says consumption rises when household wealth rises.

This question belongs to: Economy GK Economy Set 1

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