Which index is generally used to measure inflation at the wholesale level in India? MCQ with Answer and Explanation

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Which index is generally used to measure inflation at the wholesale level in India?

A. GDP deflator

B. WPI

C. CPI

D. Sensex

Answer: Option B

Solution (By JKSSB Mock Tests)

Wholesale Price Index (WPI) measures changes in prices at the wholesale level.

This question belongs to: Accountancy and Statistics Statistics

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Question #1

Which of the following is a merit of secondary data?

A. Saves time and cost

B. Originality

C. High accuracy

D. Specific to research objectives

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Correct Answer: Option A

Explanation:
Secondary data is already available, saving the time and expense of collection.

This question belongs to: Accountancy and Statistics Statistics

Question #2

The weighted mean is used when:

A. Data are symmetric

B. Different items have different degrees of importance

C. All items have the same importance

D. Data are qualitative

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Correct Answer: Option B

Explanation:
Weights reflect relative importance of each item.

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Question #3

The base year of the current series of CPI-IW (2016 series) is:

A. 2010

B. 2016

C. 2001

D. 2012

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Correct Answer: Option B

Explanation:
The current CPI-IW series has base year 2016, replacing the 2001 series.

This question belongs to: Accountancy and Statistics Statistics

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