The 'producer price index' measures prices received by: MCQ with Answer and Explanation

The 'producer price index' measures prices received by:
A. retailers only
B. wholesalers only
C. producers for their output
D. consumers
Answer: Option C
Solution (By JKSSB Mock Tests)
Producer Price Index measures prices received by producers.

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Practice More Economy Set 1 Questions

Question #1
The concept of 'Social Reproduction' in feminist economics refers to:
A. Only biological reproduction without social dimensions
B. Only market production of goods
C. Only the reproduction of capital
D. The activities and processes that maintain and reproduce the labour force on a daily and intergenerational basis, often performed unpaid within households

Correct Answer: Option D


Explanation:
Social reproduction encompasses the unpaid and paid activities—care, domestic work, education, health—that reproduce people as social and economic beings on a daily and generational basis.

This question belongs to: Economy GK Economy Set 1
Question #2
The 'International Court of Justice' is headquartered at:
A. The Hague
B. Vienna
C. Geneva
D. New York

Correct Answer: Option A


Explanation:
The International Court of Justice is headquartered at The Hague, Netherlands.

This question belongs to: Economy GK Economy Set 1
Question #3
A sunk cost is a cost that:
A. can be recovered easily
B. has already been incurred and cannot be recovered
C. falls as output rises
D. is equal to marginal cost

Correct Answer: Option B


Explanation:
A sunk cost has already been incurred and cannot be recovered.

This question belongs to: Economy GK Economy Set 1