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

Composite inde numebr involves commodities.

• One A
• Two B
• Three C
• More than one 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 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

Which is the most suitabel average in chain base method.

• Arithemetic mean A
• Median B
• Geometric mean C
• Weighted arithmetic mean 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

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

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

• 100 A
• 104.1 B
• 106.2 C
• 110.2 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

Commodities subject to considerable price variation should best be measured by

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

For computing chain index , we compute

• Price relative A
• Link relative B
• Weighted indices C
• None of these D

Which of the following price indices are prepared by Federal Bureau of Statistics.

• Wholesale price index A
• Consumer price index B
• Sensitive price indicator C
• All of these D

Importance of commodity is its

• Quantity A
• Quality B
• Weight C
• Price 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

How many basic types of index numbers.

• 2 A
• 3 B
• 4 C
• 5 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

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