CBSE Questions for Class 11 Commerce Economics Index Numbers Quiz 3 - MCQExams.com

If the prices of cement have gone up by $$2.10$$ times in comparison to the base period, the present index of cement is __________.
  • $$255$$
  • $$310$$
  • $$210$$
  • $$331$$
From the following details Laspeyre's Ideal index.
CommodityPrice $$1999$$Q$$1$$ $$1999$$Price $$2005$$Qt $$2005$$
A$$30$$$$40$$$$32$$$$36$$
B$$34$$$$36$$$$30$$$$35$$
C$$36$$$$32$$$$30$$$$40$$
  • $$88$$
  • $$90$$
  • $$92.8$$
  • $$93$$
Which of these is not a common tests for a good index number formula.
  • Forward test
  • Circular test
  • Factor reversal test
  • Time reversal test
Which of the following satisfies factor reversal test?
  • Laspeyres index
  • Fisher ideal index
  • Paasches Index
  • Simple aggregate average index
Laspeyre's index and Paasche's index of a city for $$1999$$ are $$105.8$$ and $$110.9$$, find the index number under Dorbish and Bowley method.
  • $$109.10$$
  • $$108.35$$
  • $$110.01$$
  • $$107.90$$
________ covers all those index numbers which measures the changes in total money worth during some period compared with other period.
  • Value Index Numbers
  • Quantity Index Numbers
  • Price Index Number
  • None of above
________ measure the general changes in the price level from one period to another.
  • Value Index Numbers
  • Quantity Index Numbers
  • Price Index Number
  • None of above
Index numbers are expressed in percentages.
  • True
  • False
  • Partly true
  • None of above
Index no for the base period is always taken as _______.
  • $$200$$
  • $$50$$
  • $$1$$
  • $$100$$
If the international price of crude oil was $60 per barrel when the base index of crude oil was 100 points. Now the index of crude oil has gone up to 125 points. What is the international price of crude oil now?
  • $85
  • $75
  • $80
  • $90
If the price index of aluminium was 350 in 2007 with base year 1995, then the price of Aluminium must have increased by .
  • 350 times
  • 2.5 times
  • 250 times
  • 350%
If the current price index of pulses is 295, what is the increase in prices of pulses in comparison to base years prices.
  • 195%
  • 295%
  • 250%
  • 195 times
If the current price index of gold is 10,000 per 10 gm. (Jan 2008), whereas the same was Rs. 8000 per 10 gm in JanWhat is the increase in prices of gold in comparison to base years prices (Jan 2000)
  • 25%
  • 125%
  • 50%
  • 20%
_________ is particularly suitable for the construction of index numbers.
  • Harmonic meand
  • Arithmetic mean
  • Geometric mean
  • None of above
An index number is a special type of average.
  • True
  • False
  • Partly true
  • None of above
Index numbers are also known as ______.
  • economic barometers
  • signs and guide posts
  • both (a) and (b)
  • neither (a) nor (b)
Fisher's Ideal Formula for calculating index nos. satisfies the ________ tests.
  • Units Test
  • Factor Reversal Test
  • Both
  • None of above
Paasche index is based on :
  • Base year quantities
  • Current year quantities
  • Average of current and base year
  • None of these
The cost of living index number from the following data:
Group
Commodities		Weights
     W		Group/
Commodities
Index Number I
Food71370
Clothing 3423
Fuel etc.9469
House rent 7110
Miscellaneous10279
  • 353.2
  • 300
  • 100
  • none of them
Index Numbers are often constructed from the ___________.
  • frequency
  • class
  • sample
  • None of above
The circular test is satisfied by ______________.
  • Fisher's index number
  • Paasche's index number
  • Laspeyre's index number
  • None of above
Compute Paasche's index.
 
Items		                         Best year                    Current Year
 Price (Rs.)Quantity   Price (Rs.)Quantity
 A 4 10 6 15
 B 6 15 4 20
 C 8 5 10 4
  • 125.38
  • 147.25
  • 129.8
  • None of above
______ requires that the formulae for calculating an index number should give consistent results in both the directions, i.e. forward and backward.
  • Circular test
  • Time reversal test
  • Factor reversal test
  • Unit test
Cost of living index number from the following data is 
GroupIndex 
numbers		Weight
A25044
B32020
C15016
D1708
E28012
  • 200.2
  • 245.2
  • 300.2
  • none of them
Fisher's index number is based on :
  • The Arithmetic mean of Laspeyre's and Paasche's index numbers.
  • The Median of Laspeyre's and Paasche's index numbers.
  • The Mode of Laspeyre's and Paasche's index numbers.
  • None of above.
With reference to India, consider the following statements:
$$1$$. The Wholesale Price Index(WPI) in India is available on a monthly basis only.
$$2$$. As compared to Consumer Price Index for Industrial Workers(CPI(IW)), the WPI gives less weight to food articles. Which of the statements given is/are correct?
  • $$1$$ only
  • $$2$$ only
  • Both $$1$$ and $$2$$
  • Neither $$1$$ nor $$2$$
___________ has defined human development as, "Human development is the process of widening people's choices as well as raising the level of well-being achieved".
  • Human Development Report (1992)
  • Human Development Report (1997)
  • Human Welfare Report (1992)
  • Human Welfare Report (1995)
The base year of wholesale price index is changed from 1993-94 to
  • 1996-97
  • 1997-98
  • 1999-2000
  • 2000-2001
________ is a statistical device for measuring changes in the magnitude of a group of related variables.
  • Correlation
  • Standard deviation
  • Index numbers
  • Both A and C
Select the correct ones about India's wholesale price index and the producer price index of the developed countries:
Both are exclusive of the indirect taxes.
While the producer price index contains services. wholesale price index doesn't.
  • Only 4
  • Only 2
  • 1 and 2
  • Neither 1 nor 2
0:0:1


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