The 'Wholesale Price Index' measures: MCQ with Answer and Explanation

Question

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The 'Wholesale Price Index' measures:

A. prices of consumer goods only

B. prices at the wholesale level

C. retail prices

D. prices of services

Answer: Option B

Solution (By JKSSB Mock Tests)

WPI measures price changes at the wholesale level.

This question belongs to: Economy GK Economy Set 1

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Question #1

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The 'personal consumption expenditure price index' is commonly used in which country?

A. United States

B. China

C. India

D. Japan

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Correct Answer: Option A

Explanation:
The PCE price index is a primary inflation measure in the US.

This question belongs to: Economy GK Economy Set 1

Question #2

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The 'Agreement on Agriculture' under WTO came into force in which year?

A. 2000

B. 1998

C. 1994

D. 1995

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Correct Answer: Option D

Explanation:
The Agreement on Agriculture came into force in 1995.

This question belongs to: Economy GK Economy Set 1

Question #3

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Which of the following is NOT a type of foreign investment?

A. Foreign Direct Investment

B. External Commercial Borrowings

C. Domestic bank deposits by residents

D. Foreign Portfolio Investment

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Correct Answer: Option C

Explanation:
Domestic bank deposits by residents are not foreign investment. FDI, FPI and ECBs represent different forms of foreign capital inflows.

This question belongs to: Economy GK Economy Set 1

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