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

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ICS Part 1 Statistics Chapter 5 Important MCQ's

Sr.#	Question	Answer
1	Which method of construction of consumer price index number is the laspeye's index number.	A. Aggregate expenditure method B. Family budget method C. Both a and b D. None of these
2	In chain base method the base period is.	A. Fixed B. Changed C. Constant D. None of these
3	In the price relative, the given year price is divided by the _________.	A. Base year price B. Current year price C. Previous year price D. None of these
4	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
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	Which index numbers are used to measure the buying power of the money	A. Wholesale Price index number B. Money index number C. Simple index number D. Price index number
7	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
8	Geometric mean is a suitable average in ______ method.	A. Price index B. Chanin bases C. Quantity index D. Index mean
9		A. The Laspeyres index B. The Paasches index C. The value index D. None of these
10	The changes in whole sale or retail price are studies in	A. Price index numbers B. Volume index numbers C. Aggregate index numbers D. Chain index numbers