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