Wholesale Price Index (WPI) in India primarily measures price changes for goods at which stage? MCQ with Answer and Explanation

Wholesale Price Index (WPI) in India primarily measures price changes for goods at which stage?
A. Import at customs
B. Factory gate before any distribution
C. First point of bulk sale in the market
D. Retail sale to consumers
Answer: Option C
Solution (By JKSSB Mock Tests)
WPI tracks price movements of goods traded in bulk at the wholesale level (first point of mass sale), reflecting producer and wholesale market inflation, distinct from consumer-focused CPI.

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Practice More Statistics Questions

Question #1
The harmonic mean is the reciprocal of the arithmetic mean of:
A. The observations themselves
B. Square roots of observations
C. Reciprocals of the observations
D. Squares of observations

Correct Answer: Option C


Explanation:
HM = 1 / [ (1/n) Σ (1/x_i) ].

This question belongs to: Accountancy and Statistics Statistics
Question #2
The base year of the current Consumer Price Index (CPI) in India is:
A. 2011-12
B. 2012
C. 2016
D. 2010

Correct Answer: Option B


Explanation:
The new series of CPI (Rural, Urban, Combined) has base year 2012.

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Question #3
The cost of living index is used for:
A. Calculating national income
B. Measuring industrial output
C. Adjusting wages to maintain purchasing power
D. Measuring stock performance

Correct Answer: Option C


Explanation:
It tracks changes in the cost of a fixed basket, used for wage indexation.

This question belongs to: Accountancy and Statistics Statistics