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

Question

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

A. NSO

B. Labour Bureau

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

D. RBI

Answer: Option C

Solution (By JKSSB Mock Tests)

WPI is released by the Office of Economic Adviser.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The Fiscal Responsibility and Budget Management Act was enacted in which year?

A. 2003

B. 2001

C. 2005

D. 1999

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Correct Answer: Option A

Explanation:
The FRBM Act was enacted in 2003.

This question belongs to: Economy GK Economy Set 1

Question #2

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The Sensex is a stock market index of the:

A. National Stock Exchange

B. Bombay Stock Exchange

C. Multi Commodity Exchange

D. India International Exchange

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Correct Answer: Option B

Explanation:
The Sensex is the benchmark index of the Bombay Stock Exchange (BSE).

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following is a characteristic of 'Overconfidence' as a behavioural bias?

A. The tendency to underestimate one’s own abilities

B. Only the absence of any self-assessment

C. Perfectly calibrated confidence intervals

D. The tendency of individuals to overestimate their own knowledge, abilities or the precision of their information

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Correct Answer: Option D

Explanation:
Overconfidence manifests as excessive confidence in one’s own judgments, over-precision in probability estimates, or the better-than-average effect, and can lead to excessive trading and other suboptimal decisions.

This question belongs to: Economy GK Economy Set 1

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