MCQ
A consumer price index measures changes in:
- AConsumer prices
- BWholesale prices
- ✓Retail prices
- DProducer's prices
✓
Answer
Correct option: C.
Retail prices
(c) Retail prices
Explanation: In India, three CPI’s are constructed. They are CPI for industrial workers (1982 as base), CPI for urban non manual employees (1984–85 as base), and CPI for agricultural labourers (base 1986–87). They are routinely calculated every month to analyse the impact of changes in the retail price on the cost of living of these three broad categories of consumers.
Explanation: In India, three CPI’s are constructed. They are CPI for industrial workers (1982 as base), CPI for urban non manual employees (1984–85 as base), and CPI for agricultural labourers (base 1986–87). They are routinely calculated every month to analyse the impact of changes in the retail price on the cost of living of these three broad categories of consumers.
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