The 'Wholesale Price Index' is used in India for: MCQ with Answer and Explanation

Question

Share Report Error

The 'Wholesale Price Index' is used in India for:

A. wage revision

B. income tax

C. measurement of inflation at wholesale level

D. pension calculation

Answer: Option C

Solution (By JKSSB Mock Tests)

WPI measures inflation at the wholesale level.

This question belongs to: Economy GK Economy Set 1

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

Share Report

The concept of 'Moral Hazard' in the context of deposit insurance arises because:

A. Depositors become more careful about bank risk

B. Insurance always reduces risk-taking

C. Banks may take excessive risks knowing that deposits are insured

D. Depositors monitor banks more intensively

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
Deposit insurance can create moral hazard by reducing depositors’ incentive to monitor banks and by encouraging banks to take greater risks because the downside is partly borne by the insurer.

This question belongs to: Economy GK Economy Set 1

Question #2

Share Report

The term 'Special Drawing Rights' (SDRs) is associated with:

A. Asian Development Bank

B. World Bank

C. International Monetary Fund

D. World Trade Organisation

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
Special Drawing Rights are an international reserve asset created by the International Monetary Fund to supplement member countries' official reserves.

This question belongs to: Economy GK Economy Set 1