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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What does WPI stand for?
💡 Hint: It's related to measuring prices before they reach consumers.
Question 2
Easy
What does the base year represent in index numbers?
💡 Hint: Think of it as a starting point.
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 a rising WPI indicate?
- Decreasing prices
- Increasing prices
- No change
💡 Hint: Consider what happens to costs over time.
Question 2
True or False: WPI includes prices of services.
- True
- False
💡 Hint: Think about the types of products included.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Consider a base year WPI of 100. If the index in the current year shows 150, calculate the percentage increase and explain what it means for inflation.
💡 Hint: Use the percentage change formula to calculate.
Question 2
If the WPI of food has increased significantly compared to other categories, analyze how this may impact consumer behavior and economic policy.
💡 Hint: Consider the broader economic implications.
Challenge and get performance evaluation