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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  • Total Questions17

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Statistics Ics Part 1 Chapter 5 Online Test

00:00
Question # 1

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

Question # 2

Consumer price indexis obtained by.

Question # 3

Geometric mean of the relative is.

Question # 4

Commodities subject to considerable price variation should best be measured by

Question # 5

Commodities subject to considerable price variation should best be measured by

Question # 6

The price used in the construction of consumer price index numbers are.

Question # 7

The base period in fixed base should be

Question # 8

Which is the most useful average in chain base method

Question # 9

The index number are generally classified into ___________ types.

Question # 10

Which of the followingindices satisfies both the time reversal and factor reversal tests.

Question # 11

Base yar weighted index number are.

Question # 12

Both quantities and prices are used in

Question # 13

To measrue how much the cost of some variable changes over time you would use.

Question # 14

If we went to compare the prices of wheat then we have to compute.

Question # 15

The changes in whole sale or retail price are studies in

Question # 16

The weights used in a price index are.

Question # 17

Value of commodity can be calculate by the formula

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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 Theoretically best average used in the construction of composite index in
A. The arithmetic mean
B. The geometric mean
C. The median
D. The harmonic mean
2 How many basic types of index numbers.
A. 2
B. 3
C. 4
D. 5
3 The index number are generally classified into ___________ types.
A. Two 
B. Four
C. Five
D. Three
4 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
5 When the base year values are used as weights, the weighted average of relatives price index is the same as.
A. the paache's index
B. The laspeyres index
C. The unweighted average of relatives price index
D. None of these
6 When all the commodities are not of equal importance, the index numbers are called.
A. Simple
B. Weighted
C. Value
D. Un weighted
7 In chain base method the base period is.
A. Fixed
B. Changed
C. Constant
D. None of these
8 In a fixed base method which period is taken always 100
A. Preceding
B. Following
C. Base
D. Current
9 In fixed base method, the base period should be.
A. Far away
B. Normal
C. Un reliable
D. Abnormal
10 the base period can be described as a normal period if
A. it is neither the peak nor the trough of a fluctuation
B. It is the most recent period for which we have data
C. It is the average of several consecutive pariods
D. None of these

Test Questions

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  • Merry

    Merry

    28 Mar 2016

    This is very inf0rmative site.

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