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

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.

• 90.0 A
• 13.75 B
• 880 C
• 110 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

In fixed base method, the base period should be.

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

In chain base method the base period is.

• Fixed A
• Changed B
• Constant 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

If Laspeyre's index numebr is 200, Paasche's index numebr is 200 , then Fisher's index numebr is.

• 100 A
• 200 B
• Zero C
• 1000 D

CPI falls in the category of.

• A simple index A
• An aggregative B
• An inflationary index C
• Wholesale price index D

The base period  in fixed bases should be________

• A normal year A
• Abnormal year B
• Special C
• General D

The index number are generally classified into ___________ types.

• Two  A
• Four B
• Five C
• Three D

The weights used in a price index are.

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

• The Laspeyres index A
• The Paasches index B
• The value index 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

Commodities subject to considerable price variation should best be measured by

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

Consumer price indexis obtained by.

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

The base period in fixed base should be

• Current year A
• Normal year B
• Highest year C
• Lowest year D

Importance of commodity is its

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

Index number are called:

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