SSC MTS GENERAL AWARENESS QUIZ

Question 1:

Consumer Price Index (CPI) inflation in India is measured on a:

Weekly basis

Monthly basis

Quarterly basis

Yearly basis

Question 2:

In India, inflation is measured “point-to-point”. What do you understand from it ?

Reference date for the annual inflation is January 1 to January 1 of two consecutive years (not for January 1 to December 31 of the concerned year)

The weekly rate of inflation is the change in one week reference being the two consecutive last days of the week (i.e., 5p.m of two Fridays in India).

Reference dates for calculating inflation are from the preceding and succeeding quarter of the same year

All of the above

Question 3:

Which of the following statements is an appropriate description of deflation?

It is a sudden fall in the value of one currency against other currencies

It is a continuous recession in both the financial and real sectors of the economy

It is a continuous fall in the general price level of goods and services

It is There is a fall in the rate of inflation over a period of time

Question 4:

Which of the following indicators is used to measure headline inflation in India?

CPI (Consumer Price Index)

WPI (Wholesale Price Index)

GDP deflator

Index of industrial production

Question 5:

GDP deflator is also called_____price deflator.

regulatory

exclusive

explicit

implicit

Question 6:

Which of the following statements is correct with regard to Consumer Price Index?

It measures the average change in the sale price of goods and services either as they leave the place of production or as they enter the place of production.

It is used to monitor changes in the cost of living over time.

It is used to monitor the cost of the goods and services bought by producers and firms.

It reflects the price of all the goods and services produced domestically.

Question 7:

The ________ rate measures rising prices in everything except food and energy.

Wage inflation

Core inflation

Stagflation

Deflation

Question 8:

A persistent rise in the general price level of goods and services is known as………?

Deflation

Inflation

Stagflation

Depression

Question 9:

Real GDP is a measure of a country's total ______.

income of the farmers

economic output

bank transactions

wealth of the industrialists

Question 10:

Inflationary recession is a specific combination of which of the following?

Stagnant growth and falling inflation

Blocked productivity but stable inflation

Slow growth and rising inflation

Stuck productivity and rising inflation