CBSE Questions for Class 11 Commerce Economics Index Numbers Quiz 5 - MCQExams.com

If the index number of prices at a place in $$1994$$ is $$250$$ with $$11984$$ as base year, then the prices have increased on average :
  • $$250$$%
  • $$150$$%
  • $$350$$%
  • None of above
If the $$1970$$ index with base $$1965$$ is $$200$$ and $$1965$$ index with base $$1960$$ is $$150$$, the index $$1970$$ on base $$1960$$ will be :
  • $$700$$
  • $$300$$
  • $$500$$
  • $$600$$
Year-to-year indices in the chain-base method are called ______.
  • chain indices
  • link relatives
  • fixed based indices
  • all the above
The weighted price relatives with selective weights can be reduced to __________.
  • Laspeyre's formula
  • Paasche's formula
  • both (a) and (b)
  • neither (a) nor (b)
If the old series is connected with the new series of index numbers, it is known as ______.
  • base shifting
  • backward splicing
  • forward splicing
  • none of the above
The index number of base year is 100.
  • Yes
  • No
  • May be
  • none of them
Fisher named the geometric cross formula as an ideal index formula in the year ______.
  • $$1901$$
  • $$1910$$
  • $$1920$$
  • $$1950$$
Paasche's index number formula uses the weights of the _______.
  • base period
  • current period
  • any arbitrarily chosen period
  • none of the above.
Combining of two index number series having different base periods into one series with common base period is known as _______.
  • splicing
  • base shifting
  • both (a) and (b)
  • neither (a) and (b)
Fisher's ideal formula does not satisfy _______.
  • time reversal test
  • circular test
  • factor reversal test
  • unit test
Geometric cross formula for index number is known as _________.
  • Walsh ideal formula
  • Fisher's ideal formula
  • Bowley's standard formula
  • none of the above.
Marshall and Edgeworth price index number formula utilizes the weights as _______.
  • quantities of the base year
  • quantities of the current year
  • combined quantities of base and given year
  • any of the above
The Fisher Index Number is _________.
  • GM of Laspeyre and Paasche index numbers
  • AM of Laspeyre and Paasche index numbers
  • HM of Laspeyre and Paasche index numbers
  • GM of Laspeyre and Marshall-Edge worth index numbers
The average age of $$14$$ girls in a class is $$20$$ years and of $$18$$ boys is $$23$$ years. Find average age of class. 
  • $$21\, \frac{11}{16}$$ years
  • $$21\, \frac{9}{16}$$ years
  • $$21\, \frac{7}{16}$$ years
  • $$21\, \frac{13}{16}$$ years
Deflation of index numbers is meant for calculating _______.
  • real wages
  • money income index
  • real income index
  • all the above.
Index number is unit free.
  • False
  • True
  • May be
  • none of them
If Laspeyres index number is $$110$$ and Fishers ideal index number is $$109$$. Then Paasches Index number is
  • $$108$$
  • $$110$$
  • $$109$$
  • $$118$$
If the new series is connected with the old series, it is known as ______.
  • base shifting
  • backward splicing
  • forward splicing
  • all the above
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