Banking Awareness Based on Inflation | Daily Banking Awareness Quiz

Banking Awareness Based on Inflation | Daily Banking Awareness Quiz

Banking Awareness Quiz for SBI Clerk, SBI PO, RBI, IBPS PO/Clerk/RRB/SO & other Banking & competitive exams 2020-21. Banking Awareness is an important part of any banking and Financial exam. You can Attempt Banking Awareness Quiz.

Topic- Inflation

Q1.What is inflation?
(a)Inflation refers to the rise in the prices of most goods and services of daily or common use, such as food, clothing, housing, recreation, transport, consumer staples, etc.
(b)Inflation is indicative of the decrease in the purchasing power of a unit of a country’s currency
(c)Inflation measures the average price change in goods and services in a quarter
(d)Both (a)&(b)
(e)Both (a)&(c)

Q2.Who has the authority to measure Inflation in India?
(a)Ministry of Statistics and Programme Implementation
(b)Reserve bank of India
(c)Ministry of finance
(d)Ministry of Home affairs
(e)Central statistics office

Q3.In India, Inflation is primarily measured by-
(a)Human development index
(b)consumer price Index
(c)Price index
(d)Wholesale price Index
(e)Both (b)&(d)

Q4.which of these is Not a type of Consumer price index?
(a)CPI for Industrial Workers (IW)
(b)CPI for Agricultural Labourer (AL).
(c)CPI for Rural Labourer (RL).
(d)CPI (Rural/Urban/Combined)
(e)CPI for investors(IV)

Q5.Base year to calculate CPI is-
(a)2010
(b)2011
(c)2012
(d)2007
(e)2000

Q6.Wholesale Price Index refers to-
(a)A statistic composite index of life expectancy, education and per capita income indicators
(b)An index measures changes in the price level of a weighted average market basket of consumer goods and services purchased by households
(c)An index that measures the average changes in prices received by domestic producers for their output
(d)An index that measures and tracks the changes in the price of goods in the stages before the retail level.
(e)All of the above

Q7.In order to show the average price changes of goods, Wholesale price index is reported on-
(a)Quarterly basis
(b)Monthly basis
(c)weekly
(d)yearly
(e)every 2 years

Q8.What are the causes to measure Inflation?
(a)Demand-pull inflation
(b)Cost-push inflation
(c)Devaluation
(d)Rising wages
(e)All of the above

Q9.Total number of items covered under WPI are-
(a)697
(b)504
(c)616
(d)532
(e)422

Q10.Producer Price Index measures-
(a)cost changes from the viewpoint of wholeseller
(b)price movements from the investors point of view
(c)price movements due to change in demand or supply of a product
(d)cost changes from the viewpoint of the consumer
(e)price movements from the seller’s point of view

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