CBSE Questions for Class 11 Commerce Economics Index Numbers Quiz 1 - MCQExams.com

Consumer price index numbers are obtained by:
  • Laspeyre's formula
  • Fisher ideal formula
  • Marshall Edgeworth formula
  • Paasche's formula
Most commonly used index number is:
  • Volume index number
  • Value index number
  • Price index number
  • Simple index number
Index numbers can be used for:
  • Forecasting
  • Fixed prices
  • Different prices
  • Constant prices
_______ requires that the product of price index and the corresponding quantity index number should be equal to the value index number.
  • Circular test
  • Time reversal test
  • Factor reversal test
  • Unit test
_______ is the short form of Bombay Stock Exchange Sensitive.
  • BSES
  • BSE
  • SENSEX
  • None
An index number that can serve many purposes is called:
  • General purpose index
  • Special purpose index
  • Cost of living index
  • None of them
Price relatives are a percentage ratio of current year price and:
  • Base year quantity
  • Previous year quantity
  • Base year price
  • Current year quantity
In constructing index number geometric mean relatives are: 
  • Non-reversible
  • Reciprocal
  • Reversible
  • None of them
_____ indicates the changes in monetary value
  • Price Index
  • Cost Index
  • GDP Reflector
  • All the above
Index number is an ______ barometer.
  • economic
  • weather
  • atmospheric
  • none of the above
Indices calculated by the chain base method are free from:
  • Seasonal variations
  • Errors
  • Percentages
  • Ratios
The chain base indices are not suitable for:
  • Long range comparisons
  • Short range comparisons
  • Percentages
  • Ratios
In chain base method, the base period is:
  • Fixed
  • Not fixed
  • Constant
  • Zero
The weighted of $$3$$ major categories of items of wholesale price index are $$20\%$$, $$50\%$$, $$30\%$$ respectively. If the prices of the items falling under these categories have gone up by $$25\%$$, $$15\%$$ and $$20\%$$ respectively. The wholesale price index has gone up by __________.
  • $$18.55\%$$
  • $$21.5\%$$
  • $$16.6\%$$
  • $$15.4\%$$
If all the values are of equal importance, the index numbers are called: 
  • Weighted
  • Unweighted
  • Composite
  • Value index
For consumer price index, price quotations are collected from:
  • Fair price shops
  • Government depots
  • Retailers
  • Whole-sale dealers
Price relatives computed by chain base method are called: 
  • Price relatives
  • Chain indices
  • Link relatives
  • None of them
In fixed base method, the base period should be: 
  • For away
  • Abnormal
  • Unreliable
  • Normal
When the prices of rice are to be compared, we compute: 
  • Volume index
  • Value index
  • Price index
  • Aggregative index
The Human Development Report ranks countries on the basis of ______.
  • income, health and education
  • income, health and death rate
  • income, population and education
  • infant mortality rate, health and education
Index for base period is always taken as: 
  • $$100$$
  • $$1$$
  • $$200$$
  • $$0$$
Calculate the index number for the year 2006 with 1996 as the base year by the weighted average of price relatives method from the following data.
CommodityABCDE
Weight402552010
Price(Rs) per unit 19963280110.244
Price(Rs) per unit 200640120115.363
  • 130
  • 133.34
  • 138.34
  • 139.45
The current price of a soap is Rs The base price isFind price relative.
  • 0.4
  • 0.25
  • 0.30
  • None of the above
If the prices of pulses have gone up by 3.05 times in comparison to the base period, the present index of pulses is____.
  • 269
  • 165
  • 305
  • 405
If all the values are not of equal importance the index number is called: 
  • Simple
  • Unweighted
  • Weighted
  • None
When the price of a divided by the price of the preceding year, we, get:
  • Value index
  • Link relative
  • Simple relative
  • None of them
When the price of a year is. divided by the price of a particular year we get:
  • Simple relative
  • Link relative
  • (a) and (b) both
  • None of them
A weighted aggregate price index where the weight for each item is its base period quantity is known as the
  • Paasche Index
  • Consumer Price Index
  • Producer Price Index
  • Laspeyres Index
The current price of a soap is Rs The base price is 3, find price relative.
  • $$2.7$$
  • $$2.5$$
  • $$3.6$$
  • None of the above
Which of the following statement is incorrect?
  • index number is a relative measurement
  • in fact all index numbers are weighted
  • theoretically the best average in construction of index numbers is Geometric mean
  • it is not possible to shift the base if it is the case of fixed base index
0:0:1


Answered Not Answered Not Visited Correct : 0 Incorrect : 0

Practice Class 11 Commerce Economics Quiz Questions and Answers