Economics • Economic BasicsEasy
What does the Consumer Price Index for Agricultural Labourers in Chhattisgarh primarily measure?
A. Changes in retail prices of goods and services consumed by rural agricultural households✓ Correct Answer
B. The wholesale procurement price of paddy fixed by the state government
C. The minimum daily wage mandated for construction workers in urban municipal areas
D. The average inflation rate in industrial machinery imported into Raipur
💡 Solution & Explanation
The Consumer Price Index for Agricultural Labourers tracks price movements of a fixed basket of consumer goods and services typically purchased by agricultural worker families, serving as a basis for wage adjustments. It focuses exclusively on retail transactions relevant to rural livelihood sustenance. The Labour Bureau compiles these indices periodically across various states including Chhattisgarh.
More Economics Economic Basics questions
- What is meant by 'Economies of Scale' in production economics?
- What role does the informal micro-enterprise sector play in absorbing surplus labor displaced from…
- Which of the following curves represents the graphical representation of income inequality within a…
- What does the 'Kuznets Curve' hypothesize regarding income inequality and economic development?
- Which economic model illustrates the long-term relationship between economic growth, savings, population…