The 'Wholesale Price Index' in India is compiled by: MCQ with Answer and Explanation

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The 'Wholesale Price Index' in India is compiled by:

A. Ministry of Finance

B. Office of Economic Adviser, Ministry of Commerce and Industry

C. NITI Aayog

D. RBI

Answer: Option B

Solution (By JKSSB Mock Tests)

The WPI is compiled by the Office of Economic Adviser in the Ministry of Commerce and Industry.

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Regional Comprehensive Economic Partnership' was signed in which year?

A. 2022

B. 2015

C. 2020

D. 2021

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Correct Answer: Option C

Explanation:
RCEP was signed in November 2020.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Financial Action Task Force' is an intergovernmental body that combats:

A. inflation

B. money laundering and terrorist financing

C. unemployment

D. trade deficits

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Correct Answer: Option B

Explanation:
FATF combats money laundering and terrorist financing.

This question belongs to: Economy GK Economy Set 1

Question #3

The IS curve shows combinations of income and interest rate where:

A. goods market is in equilibrium

B. foreign exchange market is in equilibrium

C. money market is in equilibrium

D. labour market is in equilibrium

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Correct Answer: Option A

Explanation:
The IS curve shows equilibrium in the goods market.

This question belongs to: Economy GK Economy Set 1

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