Self Studies
Self Studies
Self Studies
Self Studies

Introduction to Index Number Test - 1

Result Self Studies

Introduction to Index Number Test - 1
  • Score

    -

    out of -
  • Rank

    -

    out of -
TIME Taken - -
Self Studies

SHARING IS CARING

If our Website helped you a little, then kindly spread our voice using Social Networks. Spread our word to your readers, friends, teachers, students & all those close ones who deserve to know what you know now.

Self Studies Self Studies
Weekly Quiz Competition
  • Question 1
    1 / -0

    ____ does not study individual cases

    Solution

    Statistics does not give any specific importance to the individual items; in fact it deals with an aggregate of objects

     

  • Question 2
    1 / -0

    Index numbers helps in …………….

    Solution

    Index numbers possess much practical importance in measuring changes in the cost of living, production trends, trade, policy formation, income variations, etc.

     

  • Question 3
    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 4
    1 / -0

    The industrial development of a country is reflected by ……………

    Solution

    The index number of industrial production measures changes in the level of industrial production comprising many industries.

     

  • Question 5
    1 / -0

    Laspeyre’s index formula uses the weights of the

    Solution

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

     

  • Question 6
    1 / -0

    In index numbers, price in the base year is denoted by ……….

    Solution

    p0 indicate the price of the commodity in the base period, Symbolically p0 prices of base year

     

  • Question 7
    1 / -0

    Base year in an index number should be an year in which theses are

    Solution

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

     

  • Question 8
    1 / -0

    A composite price index based on the prices of a group of items is known as the

    Solution

    A composite index number is a number that measures an average relative changes in a group of relative variables with respect to base whereas a simple index number is a number that measures a realive change in a single variable with respect to base.So, composite index number is based on an aggregate of items.

     

  • Question 9
    1 / -0

    A composite price index where the prices of the items in the composite are weighted by their relative importance is known as the

    Solution

    Since, all items in data do not have equal importance to consumers, we give different weightages to different items to reflect their relative importance in the group. If i buy 1 kg of wheat per week and 7 kg of rice per week. It implies that to me, weightage lies in rice more than wheat.

     

  • Question 10
    1 / -0

    In Laspear’s Index number _____ year quantities are used

    Solution

    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.

     

Self Studies
User
Question Analysis

  • Correct -

  • Wrong -

  • Skipped -

My Perfomance
  • Score

    -

    out of -
  • Rank

    -

    out of -
Re-Attempt Weekly Quiz Competition
Self Studies Get latest Exam Updates
& Study Material Alerts!
No, Thanks
Self Studies
Click on Allow to receive notifications
Allow Notification
Self Studies
Self Studies Self Studies
To enable notifications follow this 2 steps:
  • First Click on Secure Icon Self Studies
  • Second click on the toggle icon
Allow Notification
Get latest Exam Updates & FREE Study Material Alerts!
Self Studies ×
Open Now