The new series of Wholesale Price Index (WPI) released by the Government of India is with reference to the base prices of
- (a)1981-82
- (b)1990-91
- (c)1993-94
- (d)1994-95
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Official answer(c) 1993-94
Other questions on Inflation & Price Indices
Consider the following statements : 1. The weightage of food in Consumer Price Index (CPI) is higher than that in Wholesale Price Index (WPI). 2. The WPI does not capture changes in the prices of services, which CPI does. 3. Reserve Bank of India has now adopted WPI as its key measure of inflation and to decide on changing the key policy rates. Which of the statements given above is/are correct ?
- (a)1 and 2 only
- (b)2 only
- (c)3 only
- (d)1, 2 and 3
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Official answer(a) 1 and 2 only
Which of the following brings out the ‘Consumer Price Index Number for Industrial Workers’?
- (a)The Reserve Bank of India
- (b)The Department of Economic Affairs
- (c)The Labour Bureau
- (d)The Department of Personnel and Training
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Official answer(c) The Labour Bureau
With reference to inflation in India, which of the following statements is correct?
- (a)Controlling the inflation in India is the responsibility of the Government of India only
- (b)The Reserve Bank of India has no role in controlling the inflation
- (c)Decreased money circulation helps in controlling the inflation
- (d)Increased money circulation helps in controlling the inflation
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Official answer(c) Decreased money circulation helps in controlling the inflation
Consider the following statements : 1. Inflation benefits the debtors. 2. Inflation benefits the bond-holders. Which of the statements given above is/are correct?
- (a)1 only
- (b)2 only
- (c)Both 1 and 2
- (d)Neither 1 nor 2
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Official answer(a) 1 only
A rise in general level of prices may be caused by 1. An increase in the money supply 2. A decrease in the aggregate level of output 3. An increase in the effective demand Select the correct answer using the codes given below.
- (a)1 only
- (b)1 and 2 only
- (c)2 and 3 only
- (d)1, 2 and 3
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Official answer(d) 1, 2 and 3
India has experienced persistent and high food inflation in the recent past. What could be the reasons? 1. Due to a gradual switchover to the cultivation of commercial crops, the area under the cultivation of food grains has steadily decreased in the last five years by about 30%. 2. As a consequence of increasing incomes, the consumption patterns of the people have undergone a significant change. 3. The food supply chain has structural constraints. Which of the statements given above are correct?
- (a)1 and 2 only
- (b)2 and 3 only
- (c)1 and 3 only
- (d)1, 2 and 3
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Official answer(b) 2 and 3 only