The index that measures changes in retail prices for industrial workers is: MCQ with Answer and Explanation

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The index that measures changes in retail prices for industrial workers is:

A. CPI-AL

B. GDP deflator

C. CPI-IW

D. WPI

Answer: Option C

Solution (By JKSSB Mock Tests)

Consumer Price Index for Industrial Workers (CPI-IW) is designed to measure the cost of living for working-class families.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1

If the NRR = 1, the population is:

A. Undefined

B. Declining

C. Growing

D. Exactly replacing itself

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Correct Answer: Option D

Explanation:
NRR=1 implies replacement level.

This question belongs to: Accountancy and Statistics Statistics

Question #2

Infant Mortality Rate (IMR) is calculated using live births in the denominator rather than total population because:

A. Infant deaths are directly linked to birth cohort, not total population size

B. It aligns with maternal mortality calculation

C. It simplifies calculation

D. Total population data is unavailable

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Correct Answer: Option A

Explanation:
IMR measures risk per birth event; using live births as denominator reflects the population at risk (newborns), providing a more accurate and comparable measure of infant survival than per total population.

This question belongs to: Accountancy and Statistics Statistics

Question #3

An ogive is used to find which measure of central tendency?

A. Mean

B. Geometric mean

C. Mode

D. Median

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Correct Answer: Option D

Explanation:
Median corresponds to N/2 point on the less-than ogive.

This question belongs to: Accountancy and Statistics Statistics

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