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 $$2005$$cPrice in $$2011$$Weight
Milk$$16$$$$24$$$$10$$
Rice$$20$$$$28$$$$1$$
Wheat$$10$$$$16$$$$15$$
Total
  • $$151.22$$
  • $$141.21$$
  • $$121.5$$
  • $$117.70$$
From the following detail what is the weighted average price index.
ItemsPrice in $$2005$$cPrice in $$2011$$Weight
Milk$$16$$$$24$$$$10$$
Rice$$20$$$$28$$$$1$$
Wheat$$10$$$$16$$$$15$$
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.
Year$$2005$$$$2006$$$$2007$$$$2008$$$$2009$$
FBI$$80$$$$88$$$$105.60$$$$95.4$$$$133$$
  • $$(110, 115, 98, 130)$$
  • $$(110, 115, 108, 125)$$
  • $$(110, 120, 90, 140)$$
  • $$(110, 125, 95, 136)$$
The price movement of essential food grain items during the past two years is given.
WheatRiceClothPulsesTomato
$$2004$$Rs. $$16$$ kg.Rs. $$2$$ mts.Rs. $$30$$ kg.Rs. $$15$$ per kg.
$$2009$$Rs. $$20$$Rs. $$3.30$$ per mt.Rs. $$45$$Rs. $$20$$
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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