MCQ Questions for Class 11 Commerce Economics Index Numbers Quiz 5

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 :

0%
$250$ %
0%
$150$ %
0%
$350$ %
0%
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 :

0%
$700$
0%
$300$
0%
$500$
0%
$600$

Year-to-year indices in the chain-base method are called ______.

0%
chain indices
0%
link relatives
0%
fixed based indices
0%
all the above

The weighted price relatives with selective weights can be reduced to __________.

0%
Laspeyre's formula
0%
Paasche's formula
0%
both (a) and (b)
0%
neither (a) nor (b)

If the old series is connected with the new series of index numbers, it is known as ______.

0%
base shifting
0%
backward splicing
0%
forward splicing
0%
none of the above

The index number of base year is 100.

0%
Yes
0%
No
0%
May be
0%
none of them

Fisher named the geometric cross formula as an ideal index formula in the year ______.

0%
$1901$
0%
$1910$
0%
$1920$
0%
$1950$

Paasche's index number formula uses the weights of the _______.

0%
base period
0%
current period
0%
any arbitrarily chosen period
0%
none of the above.

Combining of two index number series having different base periods into one series with common base period is known as _______.

0%
splicing
0%
base shifting
0%
both (a) and (b)
0%
neither (a) and (b)

Fisher's ideal formula does not satisfy _______.

0%
time reversal test
0%
circular test
0%
factor reversal test
0%
unit test

Geometric cross formula for index number is known as _________.

0%
Walsh ideal formula
0%
Fisher's ideal formula
0%
Bowley's standard formula
0%
none of the above.

Marshall and Edgeworth price index number formula utilizes the weights as _______.

0%
quantities of the base year
0%
quantities of the current year
0%
combined quantities of base and given year
0%
any of the above

The Fisher Index Number is _________.

0%
GM of Laspeyre and Paasche index numbers
0%
AM of Laspeyre and Paasche index numbers
0%
HM of Laspeyre and Paasche index numbers
0%
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.

0%
$21\, \frac{11}{16}$ years
0%
$21\, \frac{9}{16}$ years
0%
$21\, \frac{7}{16}$ years
0%
$21\, \frac{13}{16}$ years

Explanation

Given that,
Average age of

$14$ girls =

$20$ years
Average age of

$18$ boys =

$23$ years
Using the concept of weighted average,
Average age of the class =

$\displaystyle\, \frac{14 \times 20 + 18 \times 23}{14 + 18}$
=

$21\frac{22}{32} = 21\frac{11}{16}$ years

Deflation of index numbers is meant for calculating _______.

0%
real wages
0%
money income index
0%
real income index
0%
all the above.

Index number is unit free.

0%
False
0%
True
0%
May be
0%
none of them

If Laspeyres index number is

$110$ and Fishers ideal index number is

$109$ . Then Paasches Index number is

0%
$108$
0%
$110$
0%
$109$
0%
$118$

Explanation

Given: Laspeyres index number is

$110$

Fishers ideal index is

$109$

As we know that,

The relationship between indice Laspeyre's index , Paasche's index and Fisher's ideal index is

Fisher's Ideal Index:

$\sqrt{L.I \times P.I}$

where , L.I : Laspeyres index

P.I : Paasches index

$\Rightarrow\ F.I = \sqrt{L.I \times P.I}$

$\Rightarrow 109 = \sqrt{110 \times P.I}$

Squaring on both sides we get,

$\Rightarrow (109)^{2} = 110 \times P.I$

$\Rightarrow \dfrac{109 \times 109}{110} = P.I$

$\Rightarrow P.I = 108$

$\therefore$ The Paasches Inex is

$108$

$\therefore$ Option A.

$108$ is correct answer.

If the new series is connected with the old series, it is known as ______.

0%
base shifting
0%
backward splicing
0%
forward splicing
0%
all the above

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

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Practice Class 11 Commerce Economics Quiz Questions and Answers

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

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Practice Class 11 Commerce Economics Quiz Questions and Answers

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