Quiz on Wholesale Price Index (WPI) and Consumer Price Index (CPI)
Take the GK Quiz based on Wholesale Price Index and
Consumer Price Index below. The questions have explanations listed below them
for a better understanding.
GK Quiz on WPI and CPI
We come up with a set of multiple choice questions
based on Wholesale Price Index and Consumer Price Index. The quiz would be
specially helpful to those students preparing for various competitive exams.
The Wholesale Price Index (WPI) and Consumer Price Index (CPI) are the widely
used indexes for the calculation of inflation.
Quiz
Que.1). What is the present WPI (month of May 2021) of
India?
(a) 9.0%
(b) 10.49%
(c) 12.94%
(d) 10.94%
Ans. c
Que.2). Which of these listed below has the highest
weightage in Wholesale Price Index (WPI)?
(a) Manufactured Products
(b) Primary goods
(c) Fuel and Power
(d) All of the above
Ans. a
Que.3). Which among the following items are included
in the Wholesale Price Index (WPI) basket?
(a) Goods
(b) Services
(c) Both a and b
(d) None of these
Ans. a
Que.4). How many items are there in the Consumer Price
Index’s (WPI) rural basket?
(a) 440
(b) 448
(c) 450
(d) 460
Ans. b
Que.5). Which of the following statements is true?
i) Weightage of food in CPI is higher than that in WPI
ii) WPI does not include changes in price of services
(a) Only i
(b) Only ii
(c) Both i and ii
(d) None of the above
Ans. c
Que.6). Which index is used to calculate inflation in
India?
(a) Wholesale Price Index
(b) GDP deflator
(c) Productive Price Index
(d) Commodity Price Index
Answer: a
7. Ramesh spends some rupees on flour, rice, tuition
fee, etc., then which index will be used to calculate the average of this whole
expenditure.
(a) Wholesale Price Index
(b) Productive Price Index
(c) Consumer Price Index
(d) Producer Price Index
Answer: c
Que.8). Who releases the Wholesale Price Index
figures?
(a) Ministry of Statistics and Program Implementation
(b) Ministry of Home Affairs
(c) Ministry of Finance
(d) Ministry of Commerce and Industry
Answer: d
Que.9). Consumer Price Index (CPI) measures the price
of...
(a) Goods only
(b) Both goods and services
(c) Services only
(d) None of the above
Answer: b
Que.10). When Consumer Price Index (CPI) data
released?
(a) Every week
(b) Every month
(c) Every year
(d) Every day
Answer: b
Que.11). What is the base year for Wholesale Price
Index (WPI)?
(a) 2004-05
(b) 2001-02
(c) 2011-12
(d) 2014-15
Answer: c
Que.12). Currently how many goods are covered in the
Wholesale Price Index (WPI)?
(a) 697
(b) 556
(c) 710
(d) 220
Answer: a
Que.13). Who issues the Consumer Price Index (CPI)
data?
(a) Ministry of Statistics and Program Implementation
(b) Ministry of Commerce and Industry
(c) Ministry of Finance
(d) None of the above
Answer: a
Que.14). At which stage Wholesale Price Index (WPI)
based inflation is calculated?
(a) First stage of transaction
(b) Final stage
of transaction
(c) Intermediate stage of production
(d) None of the above
Answer: a
Que.15). What is the base year of Consumer Price Index
(CPI)?
(a) 2015
(b) 2004
(c) 2012
(d) 2001
Answer: c
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