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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define index number.
💡 Hint: What does it measure in economics?
Question 2
Easy
What does CPI stand for?
💡 Hint: Think about living costs.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What does CPI measure?
- Retail price changes
- Wholesale price changes
- Agricultural output
💡 Hint: Think about where consumers buy their goods.
Question 2
True or False: WPI includes retail prices.
- True
- False
💡 Hint: Consider the market level being referred to.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Calculate the CPI given the following prices: Year 2000 (P: $100), Year 2020 (P: $150).
💡 Hint: Use the basic CPI formula.
Question 2
Discuss how a rising WPI might influence consumer behavior.
💡 Hint: Think about price sensitivity in consumer habits.
Challenge and get performance evaluation