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CBSE Questions for Class 11 Commerce Economics Index Numbers Quiz 2 - MCQExams.com

Construct a composite index number as a weighted mean from the following data:
Index Number12214510198137116
Weight724165
  • 120
  • 122
  • 130
  • 132
Human Development Index (HDI) is a composite index of which of the following?
  • Health , literacy and employment
  • National income , size of population and general price level
  • National income , per capita income and per capita consumption
  • Physical resources , monetary resources and population size
The Human Development Index (HDI) is introduced by _______.
  • UNDP
  • UNICEF
  • IMF
  • World Bank
While calculating index numbers, the period with which the comparison is to be made, is known as the _______.
  • compared period
  • base period
  • comparable period
  • none of these
If all the values are not of equal importance the index number is called:
  • Simple
  • Unweighted
  • Weighted
  • None
A quantity index that is designed to measure changes in physical volume or production levels of industrial goods over time is known as the
  • physical volume index
  • time index
  • Index of Industrial Production and Capacity Utilization
  • none of the above
Price index numbers express __________.
  • relative price level of commodities depending on the base period
  • the changes in the physical volume of production, construction or employment.
  • level of the output in the economy.
  • none of the above
An index number is called a simple index when it is computed from: 
  • Multiple variable
  • Bi-variable
  • Single variable
  • None of these
Stock market indexes traditionally served as a benchmark to measure the performance of which of the following types of portfolios of the investors/promoters?
  • Equity portfolio
  • Tax saving instruments
  • Mutual Funds
  • Investments in Govt Securities
The base year for SENSEX is____.
  • 1976-1977
  • 1978-19779
  • 1977-1978
  • none
 ________ is not a dimension of Human Development Index.

  • Per Capita income
  • Education
  • Life expectancy
  • Moral value
IIP stands for ________. 
  • Indian Industrial Production
  • Index of Indian Production
  • Index of Indian Prices
  • Index of Industrial Production
 _______ number measures price changes from the producers perspective. 
  • Industrial production index
  • WPI
  • Producer price index
  • Both A and C
Which of these is/are not component of HDI index?

  • Knowledge
  • Longevity
  • Income
  • Health
The ________  is widely used to measure the rate of inflation.
  • IIP
  • CPI
  • WPI
  • none of the above
If the sensex rises, it indicates _____.
  • that the market is doing well and investors expect better earnings from companies
  • it indicates a growing confidence of investors in the basic health of the economy
  • both A and B
  • none
CPI stands for ________.
  • Customer Price Index
  • Consumer Price Index
  • Customer Petrol Index
  • Consumer Petrol Index
From the following detail calculate index number using Aggregate expenditure method.
ItemsPrice in 2005cPrice in 2011Weight
Milk162410
Rice20281
Wheat101615
Total
  • 151.22
  • 141.21
  • 121.5
  • 117.70
From the following detail what is the weighted average price index.
ItemsPrice in 2005cPrice in 2011Weight
Milk162410
Rice20281
Wheat101615
Total
  • 114.4
  • 133.33
  • 121.5
  • 117.70
If the index number of aluminium in 2014 is 350 with base year 2010, the prices of aluminium must have increased by ____________.
  • 250%
  • 350%
  • 3.5%
  • 2.5%
The average monthly emoluments of the officers of Nav Ratan Companies were Rs. 66,000 in 2006 when the consumer price index is 225, what would have been their monthly emoluments in 1995 when the price index was 150.
  • Rs. 36000
  • Rs. 42000
  • Rs. 44000
  • Rs. 42150
Given the Paasche Price index and Laspeyres index being 101.5 and 107.85 respectively. Find the Fisher ideal price index.
  • 109.66
  • 108.675
  • 104.62
  • 108.80
Given that Paasche Price index and Laspeyres index being 121.5 and 117.85 respectively. Find the Dorbish and Bowley price index.
  • 115.77
  • 119.675
  • 119.05
  • 108.80
The average monthly emoluments of PSU officers were Rs. 25,000 pm in 1995 when the consumer price index was 150 in 1995, in 2006 their monthly emoluments went up to Rs. 35,000 due to additional DA paid from time to time which is directly based on consumer price index. The consumer price index in 2006 is __________.
  • 210
  • 200
  • 196
  • 215
Chain base index of the following fixed base index for the years 2005 to 2009 is.
Year20052006200720082009
FBI8088105.6095.4133
  • (110,115,98,130)
  • (110,115,108,125)
  • (110,120,90,140)
  • (110,125,95,136)
The price movement of essential food grain items during the past two years is given.
WheatRiceClothPulsesTomato
2004Rs. 16 kg.Rs. 2 mts.Rs. 30 kg.Rs. 15 per kg.
2009Rs. 20Rs. 3.30 per mt.Rs. 45Rs. 20
Taking 2004 as the base year, the price index of essential commodities in 2009 is __________.
  • 118
  • 154.60
  • 123
  • 131
Average price of a commodity in 2009 was 25% more than the price in 2008. What is the price relative for 2008.
  • 80%
  • 85%
  • 120%
  • 1.20
Which country rank first in terms of HDI index?
  • Canada
  • Japan
  • Norway
  • USA
When the cost of edible vegetable oil increased by 60% over the last for years a housewife who maintain her former scale of consumption felt that his cost of living index has gone up by 12%. What percentage of his cost of living was due edible oil before the change in price.
  • 15%
  • 20%
  • 9%
  • 12%
If the index number of Aluminium in 2005 is 350 with base year 1995, the prices of aluminium must have increased by
  • 250%
  • 350%
  • 3.5%
  • 2.5%
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