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

When all the commodities are not of equal importance, the index numbers are called.

• Simple A
• Weighted B
• Value C
• Un weighted D

Index for base period is always take as.

• zero A
• one B
• 200 C
• 100 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

How many basic types of index numbers.

• 2 A
• 3 B
• 4 C
• 5 D

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

The change is whole sale or retail are studied  ___________

• Price index number A
• Quantity index number B
• Volume index number C
• None of these 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

The volume or quantity of goods are compared by_______

• Price index number  A
• Volume index number B
• Quantity C
• None of these D

Both quantities and prices are used in

• Link relatives A
• Chain relatives B
• Average of relatives C
• Aggregative index numbers 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

Paasche's index number is:

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

The most suitable average for computing of index number is:

• A.M A
• G.M B
• Median C
• H.M 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

Composite inde numebr involves commodities.

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

The index numbers are generally classified into ------------- types

• two A
• Four B
• five C
• Three D

The weights used in a quantity index are

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