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. 2019-20

B. 2011-12

C. 2004-05

D. 2015-16

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

The 'Know Your Customer' norms are aimed primarily at:

A. reducing interest rates

B. preventing money laundering and fraud

C. promoting bank loans

D. increasing bank profits

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Correct Answer: Option B

Explanation:
KYC norms help banks verify customer identity to prevent money laundering and fraud.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Spices Board of India' is headquartered in:

A. Chennai

B. Mumbai

C. Kochi

D. Delhi

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Correct Answer: Option C

Explanation:
The Spices Board of India is headquartered in Kochi.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a measure of relative poverty?

A. Percentage of population below a fixed income threshold

B. Poverty line based on minimum calorie intake

C. Absolute number of poor people

D. Income share of the bottom quintile relative to the top

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Correct Answer: Option D

Explanation:
Relative poverty is measured in relation to the overall distribution of income in society, such as the income share of the poorest relative to the richest.

This question belongs to: Economy GK Economy Set 1

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