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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What does IIP stand for?
💡 Hint: It relates to measuring industrial output.
Question 2
Easy
Name one use of the Consumer Price Index.
💡 Hint: Think about daily essentials and cost measurements.
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 the Index of Industrial Production measure?
- Changes in consumer prices
- Changes in industrial output
- Changes in wholesale prices
💡 Hint: Think about what industrial indicators focus on.
Question 2
True or False: The Consumer Price Index only considers wholesale prices.
- True
- False
💡 Hint: Recall the definitions of these indices.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Calculate the IIP if the production for 2010 was 100 units, and in 2020 it has grown to 150 units.
💡 Hint: Compare the two production figures and apply the formula!
Question 2
If CPI shows a rise from 200 to 250, what can we infer about consumer purchasing power over that period?
💡 Hint: Think about what higher prices mean for buying the same goods.
Challenge and get performance evaluation