Introduction to Index Number Test

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Introduction to Index Number Test - 16

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Weekly Quiz Competition

Question 1
1 / -0

The circular test is satisfied by ______________.

A
Fisher's index number

B
Paasche's index number

C
Laspeyre's index number

D
None of above
Question 2
1 / -0

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

A
125.38

B
147.25

C
129.8

D
None of above
Question 3
1 / -0

______ requires that the formulae for calculating an index number should give consistent results in both the directions, i.e. forward and backward.

A
Circular test

B
Time reversal test

C
Factor reversal test

D
Unit test
Question 4
1 / -0

Cost of living index number from the following data is
Group Index
numbers Weight
A 250 44
B 320 20
C 150 16
D 170 8
E 280 12

A
200.2

B
245.2

C
300.2

D
none of them
Question 5
1 / -0

Fisher's index number is based on :

A
The Arithmetic mean of Laspeyre's and Paasche's index numbers.

B
The Median of Laspeyre's and Paasche's index numbers.

C
The Mode of Laspeyre's and Paasche's index numbers.

D
None of above.
Question 6
1 / -0

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?

A
$$1$$ only

B
$$2$$ only

C
Both $$1$$ and $$2$$

D
Neither $$1$$ nor $$2$$
Question 7
1 / -0

___________ 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".

A
Human Development Report (1992)

B
Human Development Report (1997)

C
Human Welfare Report (1992)

D
Human Welfare Report (1995)
Question 8
1 / -0

The base year of wholesale price index is changed from 1993-94 to

A
1996-97

B
1997-98

C
1999-2000

D
2000-2001
Question 9
1 / -0

Select the correct ones about India's wholesale price index and the producer price index of the developed countries:
1. Both are exclusive of the indirect taxes.
2. While the producer price index contains services. wholesale price index doesn't.

A
Only 4

B
Only 2

C
1 and 2

D
Neither 1 nor 2

Solution

India's wholesale price index though has become similar to the PPI of the developed countries from the point of the exclusion of the indirect taxes (since May2017) it does not include the services.
Question 10
1 / -0

Human development is the end of all activities, while ____________ is only a means to this end.

A
economic growth

B
profit

C
supply of output

D
all of the above

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Re-Attempt Weekly Quiz Competition

Items	Best year		Current Year
Items	Price (Rs.)	Quantity	Price (Rs.)	Quantity
A	4	10	6	15
B	6	15	4	20
C	8	5	10	4

Group	Index numbers	Weight
A	250	44
B	320	20
C	150	16
D	170	8
E	280	12

Introduction to Index Number Test - 16

Result

Introduction to Index Number Test - 16

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Question 1

Fisher's index number

Paasche's index number

Laspeyre's index number

None of above

Question 2

125.38

147.25

129.8

None of above

Question 3

Circular test

Time reversal test

Factor reversal test

Unit test

Question 4

200.2

245.2

300.2

none of them

Question 5

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.

Question 6

$$1$$ only

$$2$$ only

Both $$1$$ and $$2$$

Neither $$1$$ nor $$2$$

Question 7

Human Development Report (1992)

Human Development Report (1997)

Human Welfare Report (1992)

Human Welfare Report (1995)

Question 8

1996-97

1997-98

1999-2000

2000-2001

Question 9

Only 4

Only 2

1 and 2

Neither 1 nor 2

Solution

Question 10

economic growth

profit

supply of output

all of the above

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