Introduction to Index Number Test

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Introduction to Index Number Test - 1

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Weekly Quiz Competition

Question 1
1 / -0

The Time series analysis helps to

A
Evaluating current program

B
None

C
Understanding past behavior

D
Both

Solution

Explanation:

Time series analysis is a statistical technique that deals with time series data, or trend analysis. Time series data means that data is in a series of particular time periods or intervals.
Question 2
1 / -0

In Laspear’s Index number _____ year quantities are used

A
Current

B
Average

C
None

D
Base

Solution

Explanation:

The Laspeyres price index is an index formula used in price statistics for measuring the price development of the basket of goods and services consumed in the base period.
Question 3
1 / -0

________is the index showing changes in the Indian stock market

A
Sensex

B
Census

C
IIP

D
Sample

Solution

Explanation:

Initially compiled in 1986, the Sensex is the oldest stock index in India. Sensex is the index showing changes in the Indian stock market
Question 4
1 / -0

Index numbers are expressed in

A
Average

B
None

C
Percentage

D
Both
Question 5
1 / -0

WPI stands for

A
Whole Price Index

B
None

C
Weighted Price Index

D
Wholesale Price Index
Question 6
1 / -0

The main group of industries covered by IIP are

A
Mining

B
Electricity

C
All of these

D
Manufacturing

Solution

Explanation:

The Index of Industrial Production (IIP) is an index for India which details out the growth of various sectors in an economy such as mineral mining, electricity and manufacturing.
Question 7
1 / -0

_________ is known as Ideal index number

A
None

B
Paasche’s Index number

C
Fisher’s index number

D
Laspeyres Index number

Solution

Explanation:

Fisher has discovered weighted index number in which he tries to calculate best index number because he has taken both current and past years quantity as the base of price index number.
Question 8
1 / -0

The weights used in Passche’ s formula belong to

A
The given period

B
None of the above

C
To any arbitrary chosen period

D
The base period

Solution

Explanation:

Paasche’s Method:
Under this method of calculating Price Index, the quantities of the current year are used as weights as compared to base year quantities used by Laspeyres.
Question 9
1 / -0

An appropriate method for working out consumer price index is

A
price relative method

B
weighted aggregate expenditure method

C
family budget method

D
none of the above

Solution

Explanation:

In this method, the family budgets of a large number of people are carefully studied and the aggregate expenditure of the average family on various items is estimated.
Question 10
1 / -0

Laspeyre’s index formula uses the weights of the

A
Average of the weights of a number of years

B
Current year

C
Base year

D
None of the above

Solution

Explanation:

In case of calculating the price index, assuming that for individual item price at the base period.

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Introduction to Index Number Test - 1

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Introduction to Index Number Test - 1

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Question 1

Evaluating current program

None

Understanding past behavior

Both

Solution

Question 2

Current

Average

None

Base

Solution

Question 3

Sensex

Census

IIP

Sample

Solution

Question 4

Average

None

Percentage

Both

Question 5

Whole Price Index

None

Weighted Price Index

Wholesale Price Index

Question 6

Mining

Electricity

All of these

Manufacturing

Solution

Question 7

None

Paasche’s Index number

Fisher’s index number

Laspeyres Index number

Solution

Question 8

The given period

None of the above

To any arbitrary chosen period

The base period

Solution

Question 9

price relative method

weighted aggregate expenditure method

family budget method

none of the above

Solution

Question 10

Average of the weights of a number of years

Current year

Base year

None of the above

Solution

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