MCQ Class 11 Economics Chapter 7 Index Numbers Advertisement Statistics for EconomicsMCQ’s For All Chapters – Economics Class 11th 1. WPI stands forA) Whole Price Index B) None C) Weighted Price Index D) Wholesale Price IndexQuestion 1 of 202. The main group of industries covered by IIP areA) Mining B) Electricity C) All of these D) ManufacturingQuestion 2 of 203. _________ is known as Ideal index numberA) None B) Paasche’s Index number C) Fisher’s index number D) Laspeyres Index numberQuestion 3 of 204. The weights used in Passche’ s formula belong toA) The given period B) None of the above C) To any arbitrary chosen period D) The base periodQuestion 4 of 205. An appropriate method for working out consumer price index isA) price relative method B) weighted aggregate expenditure method C) family budget method D) none of the aboveQuestion 5 of 206. Laspeyre’s index formula uses the weights of theA) Average of the weights of a number of years B) Current year C) Base year D) None of the aboveQuestion 6 of 207. The base year of IIP isA) 2004-05 B) 1994-1995 C) 2001-2002 D) 2000-2001Question 7 of 208. ______ are devices for measuring differences in the magnitude of a group of related variablesA) Standard deviation B) Mean C) Time numbers D) Index numbersQuestion 8 of 209. _____ in which current year quantities are usedA) Laspeyre’s B) Fisher’s C) Paasche’s D) NoneQuestion 9 of 2010. ____ serves as an economic barometerA) Kurtosis B) Index numbers C) Skewness D) NoneQuestion 10 of 2011. ____ are specialized type of averagesA) Median B) Mode C) Index numbers D) MeanQuestion 11 of 2012. Consumer price index numbers are prepared forA) Factor employees B) Well defined section of people C) Farmers D) All peopleQuestion 12 of 2013. ____ is a special type of average which provides a measurement of relative changes from time to time or from place to place.A) time series B) varianceC) index numbers D) noneQuestion 13 of 2014. In index numbers, price in the base year is denoted by ………..A) p0 B) p1 C) q0 D) NoneQuestion 14 of 2015. ____ is the ratio of the price of a certain commodity at the current year to its price at the base year.A) relative price B) price index C) price relative D) noneQuestion 15 of 2016. Index numbers helps in …………….A) studying the trends B) deflating values C) policy formation D) All of theseQuestion 16 of 2017. Cost of living index is known as …………A) cost price index B) consumer price index C) both D) noneQuestion 17 of 2018. Consumer price index is used for …………………A) formulation of price policy B) product evaluation C) both D) NoneQuestion 18 of 2019. The industrial development of a country is reflected by ……………A) weighted price index B) index of industrial production C) index of cost of living D) AllQuestion 19 of 2020. Most frequently used index number formula areA) weighted formula B) un weighted formula C) fixed weighted formula D) none of theseQuestion 20 of 20 Loading...
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