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

The volume or quantity of goods are compared by

• Price index numbers A
• Relative index numbers B
• Volume index numbers C
• Paasche's index 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

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

• 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

the base period can be described as a normal period if

• it is neither the peak nor the trough of a fluctuation A
• It is the most recent period for which we have data B
• It is the average of several consecutive pariods C
• None of these D

Index number are called:

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

Which index number has a wide soope

• Special A
• General B
• Price C
• Quantity 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

In fixed base method, the base period should be.

• Far away A
• Normal B
• Un reliable C
• Abnormal 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

Index number of the year text to the base year can be shown as

• Q_n A
• Q_on B
• Q₀₁ C
• Q_oi D

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

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

The volume or quantity of goods are compared by_______

• Price index number  A
• Volume index number B
• Quantity 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

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

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