demand & supply, profit loss, inflation & price index section 1 MCQ Questions & Answers Detailed Explanation

Question : 1

Who has been recently made the chairman of the work group on revision of Wholesale Price Index Services?

a) K.C. Pant

b) Abhijit Sen

c) C. Rangrajan

d) P.R. Panchamukhi

Question : 2

Which of the following steps that will result in containing inflation?

1. Increasing Cash Reserve Ratio (CRR)
2. Decreasing Statutory Liquidity Ratio (SLR)
3. Permitting Central/State agencies to import duty free pulses and sugar.

a) 2 and 3 only

b) 1 only

c) 1 and 3 only

d) 1, 2 and 3

Question : 3

Consider the following statements.

1. Inflation benefits the debtors.
2. Inflation benefits the bond holders.

a) Both 1 and 2

b) Neither 1 nor 2

c) Only 1

d) Only 2

Question : 4

Who amongst the following benefits most from inflation?

a) Saving Bank Account Holders

b) Government Pensioners

c) Creditors

d) Debtors

Question : 5

The most common measure of estimating inflation in India is

a) Consumer Price Index

b) Price Index of Index Goods

c) Price Index

d) Wholesale Price Index

Question : 6

Which one of the following agencies of Indian Government implements the price support scheme (PSS)?

a) NAFED

b) Agriculture pricing agency of India

c) FCI

d) None of the above