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

This online test contains MCQs about following topics:

Introduction to index number . Construction of price index number . Unweighted index numbers . Weighted index numbers . Consumer price index and wholesale price index

ICS Part 1 Statistics Chapter 5 Test

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MCQ's Test For Chapter 5 "Statistics Ics Part 1 Chapter 5 Online Test"

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Statistics Ics Part 1 Chapter 5 Online Test

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Question # 1

If Laspeyres index = 104.5, Paasche's index = 107.9, then, Fisher's ideal index is equal to:

Question # 2

How many basic types of index numbers.

Question # 3

Paasche's index is also called

Question # 4

The volume or quantity of goods are compared by

Question # 5

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

Question # 6

Theoretically best average used in the construction of composite index in

Question # 7

An index having a wide scope is called:

Question # 8

Commodities subject to considerable price variation should be best measured by

Question # 9

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

Question # 10

Link relataives can be obtained dividing Pn by

Question # 11

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

Question # 12

For computing chain index , we compute

Question # 13

Value of commodity can be calculate by the formula

Question # 14

Price of commodity in current year can be represented as

Question # 15

Circular test is satisfied by

Question # 16

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

Question # 17

The weights used in a quantity index are

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ICS Part 1 Statistics Chapter 5 MCQs Test

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ICS Part 1 Statistics Chapter 5 Important MCQ's

Sr.# Question Answer
1 Paasche's index number is:
A. Simple index number
B. Weighted index number
C. Un-weighted index number
D. Composite index number
2 If all the value of have equal importance,then we have to assigned certain values is such index number are called.
A. Weighted index number
B. Un-weighted index
C. Both A and B
D. Average
3 The base period  in fixed bases should be________
A. A normal year
B. Abnormal year
C. Special
D. General
4 The price used in the construction of consumer price index numbers are.
A. The retail prices
B. The fixed price
C. Thw wholsale prices
D. None of these
5 If an index numebr calculation over 8 years with a base value of 100 gave an index for 1992 of 110, what would be the percentage relative for 1993.
A. 90.0
B. 13.75
C. 880
D. 110
6 The consumer price index number is also called.
A. The cost of living index number
B. The retail price index number
C. The wholsale price index number
D. Both a and b
7 If Laspeyre's index numebr is 200, Paasche's index numebr is 200 , then Fisher's index numebr is.
A. 100
B. 200
C. Zero
D. 1000
8 Which of the followingindices satisfies both the time reversal and factor reversal tests.
A. Fisher's method
B. Paasche's method
C. Laspeyres method
D. None of these
9 Price relatives is a ratio of current year price and.
A. Base year quantity
B. Previous year quantity
C. Base year price
D. Current year quantity
10 Paasche's index is also called
A. Consumer price index
B. Current year price
C. Simple index
D. Cost of consumption

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