Sample Materials for CSAT Paper -1 (G.S.) Pre 2013: "Indian Economy - Inflation : Concepts, Facts & Policy"

Sample Materials From Our Study Notes for CSAT Paper -1 (G.S.) Pre 2013

Subject: Indian Economy
Topic: Inflation : Concepts, Facts & Policy

Contents of The Topic:

  • Inflation
  • Measures of Inflation
  • Types of Inflation
  • To Control Inflation
  • Inflation Targeting
  • Deflation
  • Government’s Steps to Control Inflation
  • New Price Index for Urban, Rural Consumers

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Test Your Knowledge

1.Consider the following statements.
  1. GDP deflator is a measure of the change in prices of all new, domestically produced, final goods & services in an economy.
  2. The new series of WPI is based on the recommendations of a working group that was set up under planning commission member Abhijit Sen.
  3. WPI is the only price Index in India which is available on a weekly basis.
  4. The new series of WPI has 435 items.
Which of the statement given above is / are correct.
  1. 1,2 ,3 & 4
  2. 2, 3 & 4 only
  3. 2 & 3 only
  4. 1, 2 & 3 only
 2.Consider the following statements
  1. There are three consumer price indices in India.
  2. The inverse relation between rate of inflation & rate of unemployment is shown in the Philips Curve.
Which of the statement given above is / are correct.
  1. 1 & 2
  2. 1 only
  3. 2 only
  4. Neither 1 nor 2

Answer of Question 1: D

Answer of Question 2: A

Civil Services Preliminary
IAS - INDIAN ADMINISTRATIVE SERVICES
UPSC
Economics