MCQ Class 11 Economics Chapter 7 Index Numbers CBSE Board

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Statistics for Economics

1. What is an index number?

Question 1 of 20

2. What is the conventional value assigned to the base period?

Question 2 of 20

3. Which period is used as the reference for comparison in an index number?

Question 3 of 20

4. What does an index number of 250 indicate?

Question 4 of 20

5. Which of the following measures changes in the physical volume of production?

Question 5 of 20

6. How many main methods are used for constructing index numbers?

Question 6 of 20

7. What is the main limitation of a simple aggregative price index?

Question 7 of 20

8. Why is a simple aggregative index called an unweighted index?

Question 8 of 20

9. Which quantities are used as weights in Laspeyres' price index?

Question 9 of 20

10. Which quantities are used as weights in Paasche's price index?

Question 10 of 20

11. What does a weighted aggregative price index measure?

Question 11 of 20

12. What is the price index calculated using the method of averaging relatives based on?

Question 12 of 20

13. What does the symbol 'n' represent in the formula for the average of price relatives?

Question 13 of 20

14. What is the weighted index of price relatives?

Question 14 of 20

15. Which type of weights is generally preferred in a weighted price relative index?

Question 15 of 20

16. What is another name for the Consumer Price Index?

Question 16 of 20

17. What does the Consumer Price Index measure?

Question 17 of 20

18. If the Consumer Price Index is 150, what percentage increase in wages is required to maintain the same standard of living?

Question 18 of 20

19. Which organisation prepares the All-India Consumer Price Index numbers?

Question 19 of 20

20. Which Consumer Price Index is used by the Reserve Bank of India as the main measure of changes in consumer prices?

Question 20 of 20


 

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