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

The 'Wholesale Price Index' measures:
A. retail prices
B. prices of services
C. prices of consumer goods only
D. prices at the wholesale level
Answer: Option D
Solution (By JKSSB Mock Tests)
WPI measures price changes at the wholesale level.

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Practice More Economy Set 1 Questions

Question #1
Labour productivity is measured as:
A. output per unit of labour input
B. total population divided by labour force
C. capital divided by labour
D. wages divided by profit

Correct Answer: Option A


Explanation:
Labour productivity is output per unit of labour input.

This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is a measure of economic inequality?
A. Human Development Index as a pure inequality measure
B. Gini coefficient, Lorenz curve and Theil index
C. Only unemployment rate
D. Only GDP growth rate

Correct Answer: Option B


Explanation:
The Gini coefficient, Lorenz curve and Theil index are standard measures used to quantify the degree of inequality in the distribution of income or wealth.

This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is NOT a measure to promote exports?
A. Special Economic Zones
B. Duty drawback schemes
C. Export subsidies
D. High import tariffs on export inputs

Correct Answer: Option D


Explanation:
High import tariffs on inputs used in export production raise costs and discourage exports. Export promotion measures include subsidies, duty drawbacks and SEZs.

This question belongs to: Economy GK Economy Set 1