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Inflation & Productivity

Practice MCQs under Inflation & Productivity. 24 available Open paginated MCQ list →

Questions

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Correct options are highlighted when revealed.

1.If your income increases from Rs19,000 to Rs31,000 while the Consumer Price Index (CPI) rises from 122 to 169, how has your standard of living most likely changed?

DecreasedIt is unclear without information about the base yearImprovedRemained unchanged

2.When the price of apples rises, leading consumers to buy fewer apples and switch to more oranges, which type of bias affects the Consumer Price Index (CPI)?

No bias appliesSubstitution biasBias related to the base yearBias from unaccounted quality changesBias caused by new products entering the market

3.Which scenario is most likely to cause the Consumer Price Index (CPI) in Pakistan to increase more than the GDP deflator?

A rise in the cost of BMW cars manufactured in Germany and imported into PakistanAn escalation in the price of Peugeots produced within PakistanAn increase in the price of helicopters bought by the Pakistan NavyA hike in the price of locally made armored vehicles sold solely to IranA surge in the price of agricultural products grown domestically

4.Which of the following is NOT a method used to measure inflation?

All the listed options are utilized to measure inflation.Consumer Price Index (CPI)Producer Price Index (PPI)GDP DeflatorFinished Goods Price Index

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