Wholesale Price Index MCQs
Wholesale Price Index – MCQs with Answers & Explanations
Class: 11th |
Subject: Economics (Statistics for Economics) |
Section: Index Numbers |
Topic: Wholesale Price Index
Board: CBSE Board Examinations
Board: CBSE Board Examinations
These Multiple Choice Questions (MCQs) are designed strictly as per the NCERT syllabus, making them ideal for CBSE Class 11 Board Examination preparation. Each question includes detailed concept‑clearing explanations.
1. WPI stands for:
Answer: A
WPI measures price changes at the wholesale level.
WPI measures price changes at the wholesale level.
2. WPI measures prices of:
Answer: B
It tracks bulk trade prices.
It tracks bulk trade prices.
3. Base year WPI is:
Answer: C
Standard index base value.
Standard index base value.
4. WPI indicates:
Answer: B
Reflects price movement in bulk markets.
Reflects price movement in bulk markets.
5. Compiled by (India):
Answer: B
OEA under Ministry of Commerce compiles WPI.
OEA under Ministry of Commerce compiles WPI.
6. WPI basket includes:
Answer: B
Covers primary, fuel, manufactured goods.
Covers primary, fuel, manufactured goods.
7. WPI above 100 means:
Answer: B
Higher than base year.
Higher than base year.
8. WPI below 100 means:
Answer: B
Lower price level.
Lower price level.
9. Major use:
Answer: A
Helps inflation monitoring.
Helps inflation monitoring.
10. WPI is a:
Answer: A
Measures price change.
Measures price change.
11. Compared to CPI, WPI covers:
Answer: B
Focus on goods at wholesale stage.
Focus on goods at wholesale stage.
12. Inflation measured by WPI is:
Answer: A
Bulk price rise indicator.
Bulk price rise indicator.
13. Weight shows:
Answer: A
Relative importance in basket.
Relative importance in basket.
14. WPI relates to:
Answer: A
Wholesale/producer level prices.
Wholesale/producer level prices.
15. Revision ensures:
Answer: A
Reflects current trade pattern.
Reflects current trade pattern.
16. Expressed in:
Answer: A
Index percentage relatives.
Index percentage relatives.
17. Inflation rises when WPI:
Answer: B
Price increase indicator.
Price increase indicator.
18. Deflation when WPI:
Answer: B
Bulk prices decline.
Bulk prices decline.
19. WPI useful for:
Answer: A
Tracks industrial price movement.
Tracks industrial price movement.
20. Major component group:
Answer: B
Largest share in WPI basket.
Largest share in WPI basket.
