The new series of Wholesale Price Index (WPI) released by the Government of India is with reference to the base prices of :
(a) 1981-82 (b) 1990-91 (c) 1993-94 (d) 1994-95
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Write notes on: (a) Minimum support price (b) Buffer stock (c) Issue price (d) Fair price shops
(a) Minimum Support Price (MSP) – This is the pre-announced price at which the government purchases foodgrains particularly, wheat and rice from the farmer in order to crate a buffer...
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Write notes on: (a) Minimum support price (b) Buffer stock (c) Issue price (d) Fair price shops
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If books bought at prices ranging from Rs.150 to Rs.300 are sold at prices ranging from Rs.250 to Rs.350,
(a) Min. C.P = Rs.150 Max. SP = Rs.350 Profit = 350 – 150 = 200 Profit on 15 books = 200 × 15 = 3000
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Mohan bought a jute bag @ 30% discount on the list price. He then sold it at a price which is 160% of the list price thereby making a profit of Rs.81.
(a) Let the LP be 100 So, cost price = 100 × 70% = 70 SP = 100 × 160% = 160 Profit = 160 – 70 = 90 When profit is 90, LP =...
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In India, inflation is measured by the: (a) Wholesale Price Index number (b) Consumers Price Index for urban non-manual workers
(a) Inflation means rise in general price level over a period of time with expectations of further increases. It is measured by changes in WPI (Wholesale Price Index). The base...
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With reference to India, consider the following statements: 1. The Wholesale Price Index (WPI) in India is available on a monthly basis only.
(b) Weightage of food articles in WPI or the Wholesale Price Index is 22% and in CPI (IW) – 57%. WPI is available on a weekly basis with base year...
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The growth rate of per capita income at current prices is higher than that of per capita income at constant prices,
(b) National income calculated on the basis of current price levels whereas National income at constant prices means that NI is being calculated by using a base year prices to...
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Consider the following statements: 1. The Commission for Agricultural Costs and Prices recommends the Minimum Support Prices for 32 crops.
(d) The National Development Council (NDC) in its 53rd meeting held on 29th May, 2007 adopted a resolution to launch a Food Security Mission consisting of rice, wheat and pulses...
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The new GDP series released by the CSO in February, 1999 is with reference to base price of:
(c) Earlier it was 1980-1981.
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With reference to the Wholesale Price Index (WPI), consider the following statements:
(b) The new WPI series with base 1993-94 = 100 became effective from April 2000. In the new WPI series, the weight for primary articles has gone down by 10...
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