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. Retail sale to consumers
B. First point of bulk sale in the market
C. Factory gate before any distribution
D. Import at customs
Answer: Option B
Solution (By JKExamLibrary)
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.

This question belongs to: Accountancy and Statistics Statistics

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Statistics Questions

Question #1 Report Error
Bayes' theorem is used to find:
A. Joint probability
B. Complementary probability
C. Posterior probability
D. Unconditional probability

Correct Answer: Option C


Explanation:
Bayes' theorem updates prior probabilities with new evidence to give posterior probabilities.

This question belongs to: Accountancy and Statistics Statistics
Question #2 Report Error
Net migration rate is calculated as the difference between in-migrants and out-migrants per:
A. 1000 births
B. Square kilometer
C. 1000 population
D. Working-age population

Correct Answer: Option C


Explanation:
Net migration rate = (Immigrants - Emigrants) / Mid-year population × 1000.

This question belongs to: Accountancy and Statistics Statistics
Question #3 Report Error
A Census aims at:
A. Complete enumeration of the population
B. Collecting income data only
C. Sample enumeration
D. Recording only births

Correct Answer: Option A


Explanation:
Census is the process of collecting data about every individual in the country at a specific point in time.

This question belongs to: Accountancy and Statistics Statistics