MyQuestionIcon

7

You visited us 7 times! Enjoying our articles? Unlock Full Access!

Consumer Price Index

Rakesh spends...

Question

Rakesh spends on rice, toys, tuition fee, etc. Which index will be used to calculate the average of this whole expenditure?

A

Consumer price index

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

B

Wholesale price index

No worries! We‘ve got your back. Try BYJU‘S free classes today!

C

Food price index

No worries! We‘ve got your back. Try BYJU‘S free classes today!

D

Price index

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A Consumer price index
The CPI or the consumer price index is calculated for goods and services. It also reveals the extra expenses that are incurred by an individual. Using this, the government can revise the wage rate of manual labourers or provide compensation to non-manual labourers.

Suggest Corrections

thumbs-up

0

Similar questions

Q. To calculate the impact of inflation on teachers, doctors, and engineers, which price index will be used?

Q. Statement: Should the tuition fees in all post-graduate courses be hiked considerably?
Arguments:
I. Yes. This will bring in some sense of seriousness among the students and will improve the quality.
II. No. This will force the meritorious poor students to stay away from post-graduate courses.

Q. Statement : Should the tuition fees in all post graduate courses be hiked considerably ?
Arguments :
I. Yes. This will bring some kind of seriousness among the students and will improve quality.
II. No. This will force the meritorious poor students to stay away from post-graduate courses.

Q. A man spends

R s .2310

on an average during the first

8

months from the income. During next

4

months he spends

R s . 1800

on an average from his income but he had taken a loan of

R s . 1680

apart from his income to meet his both ends. If he spent all what he had then the ratio of average income and a average expenditure ?

Q. Assertion :Dry cell is very commonly used in flash lights,toys, calculators etc. Reason: In secondary cells, electrode reaction can be reversed by external supply of electric current.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Shape of Body

ECONOMICS

Watch in App

explore_more_icon

Explore more

Consumer Price Index

Standard IX Economics

Join BYJU'S Learning Program

CrossIcon