The 'base year' for the current WPI series is: MCQ with Answer and Explanation

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The 'base year' for the current WPI series is:

A. 2015-16

B. 2011-12

C. 2004-05

D. 2019-20

Answer: Option B

Solution (By JKSSB Mock Tests)

The current WPI series uses base year 2011-12.

This question belongs to: Economy GK Economy Set 1

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Question #1

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Which of the following is a feature of the Indian public sector enterprises?

A. Presence of both commercial and social objectives

B. No role in strategic sectors

C. Only profit maximisation without any public purpose

D. Complete absence of social objectives

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Correct Answer: Option A

Explanation:
Public sector enterprises in India have historically pursued a combination of commercial viability and broader social and strategic objectives.

This question belongs to: Economy GK Economy Set 1

Question #2

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The World Trade Organization came into existence in which year?

A. 2001

B. 1944

C. 1995

D. 1947

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Correct Answer: Option C

Explanation:
The WTO was established in 1995, replacing GATT.

This question belongs to: Economy GK Economy Set 1

Question #3

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The 'Dutch disease' phenomenon in economics refers to:

A. a fall in agricultural productivity

B. a banking crisis

C. high inflation

D. a decline in manufacturing due to a boom in natural resource exports

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Correct Answer: Option D

Explanation:
Dutch disease is a situation where a resource boom causes currency appreciation and decline in other tradable sectors like manufacturing.

This question belongs to: Economy GK Economy Set 1

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