Introduction to Index Number Test

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Introduction to Index Number Test - 19

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Weekly Quiz Competition

Question 1
1 / -0

Find the remainder when $$6^461$$ is divided by 7___.

A
1

B
5

C
6

D
4
Question 2
1 / -0

_________ measure the changes in the physical volume of production, construction or employment.

A
Price index numbers

B
Quantity index numbers

C
Production index

D
None of the above

Solution

Quantity index number measures the relative change in the quantity in any particular year in comparison with the level of quantity in the base year.
The commonly used quantity index numbers relate to industrial production, export and import etc.
Question 3
1 / -0

Base period for an index number should be ________.

A
a year only

B
a normal period

C
a period at distance past

D
none of the above
Question 4
1 / -0

Index numbers reveal the state of _________.

A
inflation

B
deflation

C
both (a) and (b)

D
neither (a) nor (b)
Question 5
1 / -0

Index number is a __________.

A
measure of relative change

B
a special type of an average

C
a percentage relative

D
all the above
Question 6
1 / -0

Index numbers are expressed _________.

A
in framing of economic policies

B
in assessing the purchasing power of money.

C
for adjusting national income

D
all the above
Question 7
1 / -0

Laspeyre's index number is also known as ______.

A
fixed base index

B
given year method index

C
base year method index

D
none of the above

Question 8

1 / -0

From the following data compute Fisher's ideal quantity index.

Items	$$2009$$	$$2009$$	$$2010$$	$$2010$$
	Price (Rs.) $$(p_0)$$	Quantity $$(q_0)$$	Price (Rs.) $$(p_1)$$	Quantity $$(q_1)$$
$$A$$	$$4$$	$$3$$	$$6$$	$$2$$
$$B$$	$$5$$	$$4$$	$$0$$	$$4$$
$$C$$	$$7$$	$$2$$	$$9$$	$$2$$
$$D$$	$$2$$	$$3$$	$$1$$	$$5$$

$$71.05$$

$$115.43$$

$$118.35$$

$$116.48$$

Solution

	$${ p_0 q_0}$$	$${ p_0 q_1}$$	$${ p_1 q_0}$$	$${ p_1 q_1}$$
A	12	8	18	12
B	20	20	0	0
C	14	14	18	18
D	6	10	3	5
Sum	52	52	39	35

Fisher's index is given by:

$$P_{01}= \sqrt {\dfrac{\Sigma p_1q_0}{\Sigma p_0q_0}\times \dfrac{\Sigma p_1q_1}{\Sigma p_0q_1}}\times100$$

$$P_{01}= \sqrt {\dfrac{39}{52}\times \dfrac{35}{52}}\times100$$

$$P_{01}= \sqrt {\dfrac{1365}{2704}}\times100$$

$$P_{01}= \sqrt {0.50481}\times100$$

$$P_{01}= 0.710498\times100$$

$$P_{01}= 71.05$$

Question 9
1 / -0

The prices of a commodity in the year $$1975$$ and $$1980$$ were $$25$$ and $$30$$ respectively taking $$1980$$ as base year the price relative is :

A
$$109.78$$

B
$$110.25$$

C
$$113.25$$

D
None of above
Question 10
1 / -0

If the prices of all commodities in a place have decreased $$35$$% over the base period prices, then the index number of prices of that place is now :

A
$$35$$

B
$$135$$

C
$$65$$

D
None of above

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Re-Attempt Weekly Quiz Competition

Introduction to Index Number Test - 19

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Introduction to Index Number Test - 19

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SHARING IS CARING

Question 1

1

5

6

4

Question 2

Price index numbers

Quantity index numbers

Production index

None of the above

Solution

Question 3

a year only

a normal period

a period at distance past

none of the above

Question 4

inflation

deflation

both (a) and (b)

neither (a) nor (b)

Question 5

measure of relative change

a special type of an average

a percentage relative

all the above

Question 6

in framing of economic policies

in assessing the purchasing power of money.

for adjusting national income

all the above

Question 7

fixed base index

given year method index

base year method index

none of the above

Question 8

$$71.05$$

$$115.43$$

$$118.35$$

$$116.48$$

Solution

Question 9

$$109.78$$

$$110.25$$

$$113.25$$

None of above

Question 10

$$35$$

$$135$$

$$65$$

None of above

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