Practice Some Important Index Numbers (7.4) - Index Numbers

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6 sample questions

Question 1.
What does CPI stand for?
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Consider what prices it measures.
Question 2.
What is the purpose of WPI?
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Think about who it's relevant to in the economy.
3Question 3.
What does CPI stand for?
- Consumer Price Index
- Commission Price Index
- Common Price Index
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Think about what it measures in terms of consumer spending.
4Question 4.
True or False: The Sensex includes companies from various sectors?
- True
- False
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Recall what sectors we discussed regarding its significance.
Question 5.
Calculate the CPI given the following: Base Year Prices - Rs 500; Current Year Prices - Rs 800.
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Use the formula and consider the base prices.
Question 6.
Discuss the implications of a rising WPI on consumer prices and salary negotiations.
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Think about the cycle between wholesale prices affecting retail and how that relates to salaries.

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