The Wholesale Price Index (WPI) in India is compiled by: MCQ with Answer and Explanation

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The Wholesale Price Index (WPI) in India is compiled by:

A. CSO

B. RBI

C. NSSO

D. Office of Economic Adviser, DPIIT

Answer: Option D

Solution (By JKSSB Mock Tests)

The Office of the Economic Adviser in the Department for Promotion of Industry and Internal Trade (DPIIT) compiles WPI.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1

Base shifting in index numbers is commonly done when:

A. Calculating geometric means

B. Prices have dropped significantly

C. Switching from WPI to CPI

D. The base year becomes too old and irrelevant

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Correct Answer: Option D

Explanation:
As consumption patterns change over time, old base years lose relevance, requiring 'base shifting' to a more recent period.

This question belongs to: Accountancy and Statistics Statistics

Question #2

Cost of Living Index (CLI) is conceptually synonymous with:

A. Index of Industrial Production

B. Wholesale Price Index

C. Consumer Price Index

D. Human Development Index

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Correct Answer: Option C

Explanation:
CLI measures the changes in the cost of maintaining a certain standard of living, identical in purpose to the Consumer Price Index.

This question belongs to: Accountancy and Statistics Statistics

Question #3

If the Laspeyres price index for a commodity basket is 140 and the Paasche is 135, Fisher's index is:

A. 135

B. 140

C. 137.47

D. 137.5

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Correct Answer: Option C

Explanation:
√(140×135) = √18900 ≈ 137.477.

This question belongs to: Accountancy and Statistics Statistics

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