Multi-choice 2 Question 1. The formula for simple average of price relative is Answers Option 1 Option 2 Option 3 Option 4 Feedback Wrong choice Incorrect selection Wrong choice Correct option Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 2. Consumer price index number measures Answers Option 1 changes in prices Option 2 changes in wholesale prices Option 3 changes in the retail prices Option 4 None of the above Feedback Wrong choice Incorrect selection Correct option Wrong choice Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Question 3. If the price index increases by 20 per cent, the cost of Economics book, which at present is ₹ 350, will increase by Answers Option 1 ₹20 Option 2 ₹70 Option 3 ₹ 50 Option 4 ₹30 Feedback Wrong choice Correct option Incorrect selection Wrong choice Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 4. Index of industrial production is a Answers Option 1 development index Option 2 cost of living index Option 3 price index Option 4 quantity index Feedback Wrong choice Incorrect selection Wrong choice Correct option Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 5. Index numbers indicate Answers Option 1 relative changes Option 2 absolute changes Option 3 Both absolute and relative Option 4 None of the above Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 6. Weighted aggregate index formula using base year quantities as base is called- Answers Option 1 Lasperyre’s price index Option 2 Passche’s price index Option 3 Bowley’s price index Option 4 Fischer’s price index Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 7. Weighted aggregate index formula using the average of base year and current year’s quantities as base is called Answers Option 1 Bowley’s price index Option 2 Fischer’s price index Option 3 Passche’s price index Option 4 Lasperyre’s price index Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 8. The geometric mean of Laspeyre’s and Paasche’s indices is- Answers Option 1 Fisher’s ideal index Option 2 Bowley’s index Option 3 Marshall and Edgewoth’s index Option 4 None of the above Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 9. Weighted average of relatives, if base year value is taken as weight, gives- Answers Option 1 Lasperyre’s index Option 2 Fisher’s ideal index Option 3 Passche’s price index Option 4 Bowley’s index Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 10. The error of estimate is measured by Answers Option 1 the square root of the A. M. of the squared differences Option 2 the square root of the squared difference Option 3 the square of the squared differences Option 4 the arithmetic mean of the squared differences Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback)
Multi-choice 2 Question 1. The formula for simple average of price relative is Answers Option 1 Option 2 Option 3 Option 4 Feedback Wrong choice Incorrect selection Wrong choice Correct option Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 2. Consumer price index number measures Answers Option 1 changes in prices Option 2 changes in wholesale prices Option 3 changes in the retail prices Option 4 None of the above Feedback Wrong choice Incorrect selection Correct option Wrong choice Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Question 3. If the price index increases by 20 per cent, the cost of Economics book, which at present is ₹ 350, will increase by Answers Option 1 ₹20 Option 2 ₹70 Option 3 ₹ 50 Option 4 ₹30 Feedback Wrong choice Correct option Incorrect selection Wrong choice Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 4. Index of industrial production is a Answers Option 1 development index Option 2 cost of living index Option 3 price index Option 4 quantity index Feedback Wrong choice Incorrect selection Wrong choice Correct option Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 5. Index numbers indicate Answers Option 1 relative changes Option 2 absolute changes Option 3 Both absolute and relative Option 4 None of the above Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 6. Weighted aggregate index formula using base year quantities as base is called- Answers Option 1 Lasperyre’s price index Option 2 Passche’s price index Option 3 Bowley’s price index Option 4 Fischer’s price index Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 7. Weighted aggregate index formula using the average of base year and current year’s quantities as base is called Answers Option 1 Bowley’s price index Option 2 Fischer’s price index Option 3 Passche’s price index Option 4 Lasperyre’s price index Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 8. The geometric mean of Laspeyre’s and Paasche’s indices is- Answers Option 1 Fisher’s ideal index Option 2 Bowley’s index Option 3 Marshall and Edgewoth’s index Option 4 None of the above Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 9. Weighted average of relatives, if base year value is taken as weight, gives- Answers Option 1 Lasperyre’s index Option 2 Fisher’s ideal index Option 3 Passche’s price index Option 4 Bowley’s index Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 10. The error of estimate is measured by Answers Option 1 the square root of the A. M. of the squared differences Option 2 the square root of the squared difference Option 3 the square of the squared differences Option 4 the arithmetic mean of the squared differences Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback)
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