Which of the following is an index number used to measure inflation in India? MCQ with Answer and Explanation

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Which of the following is an index number used to measure inflation in India?

A. Index of Industrial Production (IIP)

B. Wholesale Price Index

C. Sensex

D. Nifty

Answer: Option B

Solution (By JKSSB Mock Tests)

WPI (and CPI) measure inflation; Sensex and Nifty are stock indices; IIP measures industrial output.

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Practice More Statistics Questions

Question #1

Two events are mutually exclusive if they:

A. Can occur together

B. Always occur together

C. Have equal probabilities

D. Cannot occur together

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Correct Answer: Option D

Explanation:
Mutually exclusive events have no common outcome; P(A∩B) = 0.

This question belongs to: Accountancy and Statistics Statistics

Question #2

Which type of classification is used when data is grouped according to time periods such as years, months, or quarters?

A. Quantitative classification

B. Qualitative classification

C. Chronological classification

D. Spatial classification

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Correct Answer: Option C

Explanation:
Chronological classification organizes data based on time sequences, enabling analysis of trends, patterns, and changes over specific periods like years or months.

This question belongs to: Accountancy and Statistics Statistics

Question #3

Assertion (A): NRR is a more accurate measure of population replacement than GRR. Reason (R): NRR incorporates female mortality, while GRR does not.

A. A is false but R is true

B. Both A and R are true, but R is not the correct explanation of A

C. A is true but R is false

D. Both A and R are true, and R is the correct explanation of A

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Correct Answer: Option D

Explanation:
NRR adjusts for the probability that female births survive to reproductive ages, providing a realistic assessment of generational replacement, whereas GRR assumes all female births survive, overestimating replacement potential.

This question belongs to: Accountancy and Statistics Statistics

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