1st Year Statistics Chapter 5 TestIndex Numbers

Q1. Multiple choice questions (Attempt all · 10 × 1 = 10)

1. The weights used in a quantity index are:

   1. Percentages of total quantity

   2. Prices

   3. Average of quantities

   4. None of these

2. Which method of construction of consumer price index number is the Laspeyre's index number?

   1. Aggregate expenditure method

   2. Family budget method

   3. Both (a) and (b)

   4. None of these

3. Composite index number involves commodities:

   1. One

   2. Two

   3. Three

   4. More than one

4. Paasche's Index Number:

   1. 

   2. 

   3. 

   4. 

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

   1. Chain base method

   2. Fixed base method

   3. Simple aggregative method

   4. Cost of living method

6. Which of the following indices has an upward bias?

   1. Laspeyre's index

   2. Paasche's index

   3. Fisher's index

   4. None of these

7. Which of the following formula is Laspeyre's price index number?

   1. 

   2. 

   3. 

   4. All of these

8. Simple index number involves commodities:

   1. One

   2. Two

   3. Four

   4. None of these

9.  is called:

   1. Simple index

   2. Weighted index

   3. Simple aggregative index

   4. Price relative

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

    1. Simple

    2. Un-weighted

    3. Weighted

    4. Value