First Year ICS Statistics Chapter 5 Online MCQ Test (Index Numbers)

Commodities subject to considerable price variation should best be measured by

• Quantity index A
• Price index B
• Value index C
• None of thes D

Which of the followingindices satisfies both the time reversal and factor reversal tests.

• Fisher's method A
• Paasche's method B
• Laspeyres method C
• None of these D

The weights used in a price index are.

• Percentage of total price A
• Average of prices B
• Quantities C
• None of these D

An index having a wide scope is called:

• Price index number A
• General purpose index number  B
• Special purpose index number C
• None of these D

Which of the following indices satisfies both the time reversal and factor reveral tests.

• Laspeyres' index A
• Fisher's index B
• Paasche's index C
• Marshall -edge worth D

An index that measures the change for a fixed time period is called.

• Chain base method A
• Fixed base method B
• Simple aggregative method C
• Cost of living method D

Price relatives is a ratio of current year price and.

• Base year quantity A
• Previous year quantity B
• Base year price C
• Current year quantity D

Which is the most useful average in chain base method

• Arithmetic mean A
• Median B
• Geometric mean C
• Weighted arithmetic mean D

If all the values considered in calculating an inxed are of equal importance, teh index is.

• Weighted A
• Simple B
• Un weighted C
• None of these D

When all the commodities are not of equal importance, the index numbers are called.

• Simple A
• Weighted B
• Value C
• Un weighted D

Value of commodity can be calculate by the formula

• P_o x P_n A
• Price x volume B
• 
  
  
  C
• Price x quantity D

Index number are called:

• Mathematical barometer A
• Economic barometer B
• Statistical barometer C
• Both A and C D

Importance of commodity is its

• Quantity A
• Quality B
• Weight C
• Price D

Paasche's index is also called

• Consumer price index A
• Current year price B
• Simple index C
• Cost of consumption D

In chain base method the base period is.

• Fixed A
• Changed B
• Constant C
• None of these D

• The Laspeyres index A
• The Paasches index B
• The value index C
• None of these D

If an unweighed average of revalives index pn/po x 100 is calculated for each product in the compostive, what is then done with these values to finish the calculation.

• The values are multiplied together. A
• The largest values is found B
• The valeus are averaged C
• None of them D