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

How many basic types of index numbers.

• 2 A
• 3 B
• 4 C
• 5 D

If all the value of have equal importance,then we have to assigned certain values is such index number are called.

• Weighted index number A
• Un-weighted index B
• Both A and B C
• Average D

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

Commodities subject to considerable price variation should best be measured by

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

To measrue how much the cost of some variable changes over time you would use.

• A volue inxex A
• An inflation index B
• A quantity index 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

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

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

Which method of construction of consumer price index number is the laspeye's index number.

• Aggregate expenditure method A
• Family budget method B
• Both a and b 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

Circular test is satisfied by

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

The index number given by formula Σp_nq_n/Σp_nq_n x100 is:

• Laspeyres index A
• The paasche's index B
• The value index C
• None of these D

The most suitable average for computing of index number is:

• A.M A
• G.M B
• Median C
• H.M D

Which of the following methods uses quantities consumed in the base period when computing a weighted index.

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

Consumer price indexis obtained by.

• Paache's formula A
• Marshall Edgeworth formula B
• Fisher's ideal formula C
• Family Budget Method formula D

Index number are called:

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

If we went to compare the prices of wheat then we have to compute.

• Price index number A
• Quantity index number B
• Volume index number C
• Both B and C D