Introduction To Index Number CBSE Questions & Answers

Introduction To Index Number

This is Economics Class 11 Introduction to Index Number CBSE Questions & Answers. There are 15 questions in this test with each question having around four answer choices.

Questions & Answers

1
____ mean importance assigned to different commodities included in the index
  • A
    None
  • B
    Price
  • C
    Weights
    Correct
  • D
    Both
2
____ serves as an economic barometer
  • A
    Skewness
  • B
    Index numbers
    Correct
  • C
    Kurtosis
  • D
    None
3
____ are specialized type of averages
  • A
    Mean
  • B
    Index numbers
    Correct
  • C
    Mode
  • D
    Median
4
Consumer price index numbers are prepared for
  • A
    All people
    Correct
  • B
    Well defined section of people
  • C
    Farmers
  • D
    Factor employees
5
____ does not study individual cases
  • A
    None
  • B
    averages
  • C
    index numbers
  • D
    Statistics
    Correct
6
____ is a special type of average which provides a measurement of relative changes from time to time or from place to place.
  • A
    none
  • B
    variance
  • C
    index numbers
    Correct
  • D
    time series
7
In index numbers, price in the base year is denoted by ………..
  • A
    p0
    Correct
  • B
    p1
  • C
    q0
  • D
    None
8
____ is the ratio of the price of a certain commodity at the current year to its price at the base year.
  • A
    price relative
    Correct
  • B
    relative price
  • C
    none
  • D
    price index
9
Index numbers helps in …………….
  • A
    policy formation
  • B
    All of these
    Correct
  • C
    studying the trends
  • D
    deflating values
10
Cost of living index is known as …………
  • A
    both
  • B
    consumer price index
    Correct
  • C
    none
  • D
    cost price index
11
Consumer price index is used for …………………
  • A
    None
  • B
    both
  • C
    product evaluation
  • D
    formulation of price policy
    Correct
12
WPI means……………..
  • A
    world price index
  • B
    weighted price index
  • C
    wholesale price index
    Correct
  • D
    none
13
The industrial development of a country is reflected by ……………
  • A
    weighted price index
  • B
    All
  • C
    index of industrial production
    Correct
  • D
    index of cost of living
14
Most frequently used index number formula are
  • A
    weighted formula
    Correct
  • B
    fixed weighted formula
  • C
    un weighted formula
  • D
    none of these
15
Base year in an index number should be an year in which theses are
  • A
    Minimum cyclical fluctuations
    Correct
  • B
    Average cyclical fluctuations
  • C
    No cyclical fluctuations
  • D
    Maximum cyclical fluctuations