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Introduction to Index Number Test - 5

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Introduction to Index Number Test - 5
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Weekly Quiz Competition
  • Question 1
    1 / -0

    The base year for index numbers should be…………..

    Solution

    The base year for any index number is routinely updated. That year in which there are Minimum cyclical fluctuations

  • Question 2
    1 / -0

    Commodities which show considerable price fluctuations could be best measured by a…………….

    Solution

    Quantity index numbers measure the changes in the physical volume of production.

  • Question 3
    1 / -0

    Comparison is made between base year and ___________is called index number of prices

    Solution

     According to this ,a year posessing the features laid down in statistics is taken as a base year and Comparison is made between base year and current year.

  • Question 4
    1 / -0

    Suppose we want to know the average changes in the price of a set of commodities in 2010 with respect to the prices of same set of commodities in 2008. In this case what will be the base year?

    Solution

    The base year refers to the year to which comparison is made with. We will compare 2010 with 2008 with respect to prices  

  • Question 5
    1 / -0

    ………….. reflects on the price change experienced by families of people.

    Solution

    Consumer index number (CPI) or cost of living index numbers are helpful in studying the change in consumer expenditure .Here, family is basically a consumer unit. 

  • Question 6
    1 / -0

    Index Number reveals the state of

    Solution

    In  statistics ,we assume that index no .of base year is hundred. If the index number calculated from data is less than 100, it implies deflation and if it is greater than 100, it implies inflation . 

  • Question 7
    1 / -0

    From the following which is not a kind of index number

    Solution

    Index number is measured for quantitative data not qualitative data . 

  • Question 8
    1 / -0

    Index numbers may be constructed to reflect percentage changes in …………..

    Solution

    All these are variables whose values are calculable. 

  • Question 9
    1 / -0

    In index number current year quantity is denoted by ……………

    Solution

    By, convention, q1 refers to current year's quantity  in statistics. Here ,subscript 1,refers to current year and q refers to quantity. 

  • Question 10
    1 / -0

    From the following which is not a problem in the construction of Index numbers?

    Solution

    Prices are given and considering them donot create bias given weights are used with the given prices.

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