Test Completed!
Answer Review
Q1
Which index is used by the Reserve Bank of India (RBI) as the primary anchor for monetary policy to measure inflation in India? (SSC CGL Tier-1)
A
Wholesale Price Index (WPI)
B
Consumer Price Index (Combined) (CPI-C)
C
Gross Domestic Product (GDP) Deflator
D
Index of Industrial Production (IIP)
Q2
What is “Core Inflation” derived from? (SSC CHSL Tier-1)
A
Headline inflation minus manufacturing goods
B
Headline inflation plus volatile energy prices
C
Headline inflation minus volatile items like food and fuel
D
Whole price index minus services
Q3
A situation characterized by slow economic growth, high unemployment, and high inflation occurring simultaneously is known as: (SSC MTS / GD CBT)
A
Hyperinflation
B
Stagflation
C
Deflation
D
Disinflation
Q4
What is the primary difference between the Wholesale Price Index (WPI) and the Consumer Price Index (CPI) in India? (SSC CPO Tier-1)
A
CPI includes services, whereas WPI does not include services
B
WPI is published by NSO, while CPI is published by DPIIT
C
WPI tracks retail transactions, while CPI tracks wholesale trade
D
CPI excludes food items entirely
Q5
“Too much money chasing too few goods” describes which form of inflation? (SSC GD CBT)
A
Cost-push inflation
B
Demand-pull inflation
C
Galloping inflation
D
Structural inflation
