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

Price of commodity in current year can be represented as

• P_oi A
• P_on B
• P_n C
• P_i D

Paasche's index number is:

• Simple index number A
• Weighted index number B
• Un-weighted index number C
• Composite index number D

Commodities subject to considerable price variation should be best measured by

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

Which index numbers are used to measure the buying power of the money

• Wholesale Price index number A
• Money index number B
• Simple index number C
• Price index number D

In the price relative, the given year price is divided by the _________.

• Base year price A
• Current year price B
• Previous year price C
• None of these 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 consumer price index number is also called.

• The cost of living index number A
• The retail price index number B
• The wholsale price index number C
• Both a and b D

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

The weights used in a quantity index are

• Percentage of total quantity A
• Prices B
• Average of quantities C
• None of these D

In chain base method the base period is.

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

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

• Laspeyres' method A
• Paache's method B
• Fisher's method C
• Marshall -Edge worth's method 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

While dealing with price we use ----------------- as weights

• Quantity A
• Quality B
• Volume C
• Both (b) and (c) D

Importance of commodity is its

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

Theoretically best average used in the construction of composite index in

• The arithmetic mean A
• The geometric mean B
• The median C
• The harmonic mean D

Index for base period is always take as.

• zero A
• one B
• 200 C
• 100 D

The weights used in a price index are.

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