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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Statistics Ics Part 1 Chapter 5 Online Test

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Question # 1

The consumer price index number is also called.

Question # 2

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

Question # 3

The index number are generally classified into ___________ types.

Question # 4

The weights used in a quantity index are

Question # 5

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

Question # 6

The index number given by formula Σpnqn/Σpnqn x100 is:

Question # 7

When the base year values are used as weights, the weighted average of relatives price index is the same as.

Question # 8

Theoretically best average used in the construction of composite index in

Question # 9

The base period  in fixed bases should be________

Question # 10

Which index number has a wide soope

Question # 11

If all the value of have equal importance,then we have to assigned certain values is such index number are called.

Question # 12

An index that measures the change for a fixed time period is called.

Question # 13

CPI falls in the category of.

Question # 14

Geometric mean is a suitable average in ______ method.

Question # 15

While dealing with price we use ----------------- as weights

Question # 16

For computing chain index , we compute

Question # 17

Index for base period is always take as.

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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 An index having a wide scope is called:
A. Price index number
B. General purpose index number 
C. Special purpose index number
D. None of these
2 If all the value of have equal importance,then we have to assigned certain values is such index number are called.
A. Weighted index number
B. Un-weighted index
C. Both A and B
D. Average
3 The volume or quantity of goods are compared by
A. Price index numbers
B. Relative index numbers
C. Volume index numbers
D. Paasche's index
4 Geometric mean is a suitable average in ______ method.
A. Price index
B. Chanin bases
C. Quantity index
D. Index mean
5 The weights used in a price index are.
A. Percentage of total price
B. Average of prices
C. Quantities
D. None of these
6 Commodities subject to considerable price variation should best be measured by
A. Quantity index
B. Price index
C. Value index
D. None of thes
7 In a fixed base method which period is taken always 100
A. Preceding
B. Following
C. Base
D. Current
8 Which is the most suitabel average in chain base method.
A. Arithemetic mean
B. Median
C. Geometric mean
D. Weighted arithmetic mean
9 Both quantities and prices are used in:
A. Link relatives
B. Chain relatives
C. Average of relatives 
D. Aggregative index number
10 The index number given by formula Σpnqn/Σpnqn x100 is:
A. Laspeyres index
B. The paasche's index
C. The value index
D. None of these

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