7.4 - SOME IMPORTANT INDEX NUMBERS
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Practice Questions
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What does CPI stand for?
💡 Hint: Consider what prices it measures.
What is the purpose of WPI?
💡 Hint: Think about who it's relevant to in the economy.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What does CPI stand for?
💡 Hint: Think about what it measures in terms of consumer spending.
True or False: The Sensex includes companies from various sectors?
💡 Hint: Recall what sectors we discussed regarding its significance.
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Challenge Problems
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Calculate the CPI given the following: Base Year Prices - Rs 500; Current Year Prices - Rs 800.
💡 Hint: Use the formula and consider the base prices.
Discuss the implications of a rising WPI on consumer prices and salary negotiations.
💡 Hint: Think about the cycle between wholesale prices affecting retail and how that relates to salaries.
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