The Wholesale Price Index in India measures price movements of: MCQ with Answer and Explanation

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The Wholesale Price Index in India measures price movements of:

A. goods only

B. services only

C. goods and services

D. agricultural products only

Answer: Option A

Solution (By JKSSB Mock Tests)

WPI measures price movements of goods only; it does not include services.

This question belongs to: Economy GK Economy Set 1

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Question #1

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

A. unemployment

B. trade deficits

C. inflation

D. money laundering and terrorist financing

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Correct Answer: Option D

Explanation:
FATF combats money laundering and terrorist financing.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Mercosur' is a trading bloc in:

A. South America

B. Europe

C. Africa

D. Asia

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Correct Answer: Option A

Explanation:
Mercosur is a South American trading bloc including Argentina, Brazil, Paraguay and Uruguay.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on import of services is:

A. 12%

B. levied as IGST under reverse charge

C. not levied

D. 5%

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Correct Answer: Option B

Explanation:
Import of services attracts IGST under reverse charge.

This question belongs to: Economy GK Economy Set 1

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