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
The base year of IIP is
  • A
    1994-1995
  • B
    2004-2005
    Correct
  • C
    2001-2002
  • D
    2000-2001
2
Laspeyre’s index formula uses the weights of the
  • A
    None of the above
  • B
    Average of the weights of a number of years
  • C
    Current year
  • D
    Base year
    Correct
3
An appropriate method for working out consumer price index is
  • A
    family budget method
    Correct
  • B
    price relative method
  • C
    weighted aggregate expenditure method
  • D
    none of the above
4
The weights used in Passche’ s formula belong to
  • A
    The base period
  • B
    None of the above
  • C
    The given period
    Correct
  • D
    To any arbitrary chosen period
5
_________ is known as Ideal index number
  • A
    Fisher’s index number
    Correct
  • B
    Paasche’s Index number
  • C
    None
  • D
    Laspeyres Index number
6
Formula for calculating price index is
  • A
    None
  • B
    \(II{P_{01}} = {\text{ }}\frac{{\sum {(\frac{{{q_1}}}{{{q_0}}}){\text{ P}}} }}{{\sum P }}\)
  • C
    \(II{P_{01}} = {\text{ }}\frac{{\sum {(\frac{{{q_1}}}{{{q_0}}}){\text{ P}}} }}{{\sum W }}\)
  • D
    \(II{P_{01}} = {\text{ }}\frac{{\sum {(\frac{{{q_1}}}{{{q_0}}}){\text{ W}}} }}{{\sum W }}\)
    Correct
7
Match the following. Options are as follows
Question 7 figure 1
  • A
    a(i), b(iii), c(ii)
  • B
    a(ii), b(iii), c(i)
    Correct
  • C
    a(iii), b(ii), c(i)
  • D
    a(i), b(ii), c(iii)
8
______ are devices for measuring differences in the magnitude of a group of related variables
  • A
    Standard deviation
  • B
    Time numbers
  • C
    Mean
  • D
    Index numbers
    Correct
9
_____ in which current year quantities are used
  • A
    None
  • B
    Fisher’s
  • C
    Paasche’s
    Correct
  • D
    Laspeyre’s
10
The main group of industries covered by IIP are
  • A
    Electricity
  • B
    Mining
  • C
    All of these
    Correct
  • D
    Manufacturing
11
WPI stands for
  • A
    Whole Price Index
  • B
    Weighted Price Index
  • C
    None
  • D
    Wholesale Price Index
    Correct
12
Index numbers are expressed in
  • A
    Average
  • B
    None
  • C
    Percentage
    Correct
  • D
    Both
13
________is the index showing changes in the Indian stock market
  • A
    Census
  • B
    IIP
  • C
    Sample
  • D
    Sensex
    Correct
14
In Laspear’s Index number _____ year quantities are used
  • A
    None
  • B
    Base
    Correct
  • C
    Average
  • D
    Current
15
The Time series analysis helps to
  • A
    Both
    Correct
  • B
    Evaluating current program
  • C
    None
  • D
    Understanding past behavior