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Index Numbers Economics - Index Numbers

CBSE - STD 11 Commerce - Economics (CBSE - English Medium). 233 questions in this chapter.

Question types

Index Numbers question types

233 questions across 7 question groups — pick any mix to generate a Economics paper with step-by-step answer keys.

233
Questions
7
Question groups
5
Question types
Sample Questions

Index Numbers questions

One sample from each question group in this chapter. Select any group above to see the full set with answer keys.

Q 1M.C.Q (1 Marks)1 Mark
The Paasche’s index number is based on:
  • A
    Base year quantities.
  • ✓
    Current year quantities.
  • C
    Average of current and base years.
  • D
    None of the above.

Answer: B.

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Q 3M.C.Q (1 Marks)1 Mark
If with the rise of $10\%$ in prices the wages are increased by $20\%,$ the real wage increase by$...........\%.$
  • A
    $20$
  • ✓
    $10$
  • C
    $30$
  • D
    $2$

Answer: B.

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Q 4M.C.Q (1 Marks)1 Mark
Consumer Price Index is also known as:
  • A
    Industrial Production Index.
  • ✓
    Cost of Living Index.
  • C
    Wholesale Price Index.
  • D
    None of these.

Answer: B.

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Q 5M.C.Q (1 Marks)1 Mark
Fisher’s index number is considered ideal because:
  • A
    It is based on variable weights.
  • B
    It satisfies Time Reversal Test.
  • C
    It satisfies Factor Reversal Test.
  • ✓
    All of these.

Answer: D.

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Q 10True/False1 Mark
The price index numbers measures the general change in price between the current year and the base year. (True/ False)
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Q 264 Marks Question4 Marks
Calculate weighted aggregative price index number from the following data using Paasche's method.
Commodity
Base Year
Current Year
Price (₹)
Quantity
Price (₹)
Quantity
A
10
30
12
50
B
8
15
10
25
C
6
20
6
30
D
4
10
6
20
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Q 274 Marks Question4 Marks
Salary of Rahul was ₹ 10,000 in base year. Current year's CPI is 225 and his salary is ₹ 21,000. Can he maintain same living standard as base year? Give reasons.
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Q 284 Marks Question4 Marks
Calculate weighted index number for $2016$ by weighted average of relative method for the following data:
Items Weight Price in 2015 (₹) Price in 2016 (₹)
A 10 100 161
B 7 200 210
C 15 50 60
D 9 20 30
E 10 10 14
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Q 294 Marks Question4 Marks
Read the following table carefully and give your comments.
INDEX OF INDUSTRIAL PRODUCTION BASE 1993–94
Industry Weight in % 1996–97 2003–2004
General index 100 130.8 189.0
Mining and quarrying 10.73 118.2 146.9
Manufacturing 79.58 133.6 196.6
Electricity 10.69 122.0 172.6
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Q 304 Marks Question4 Marks
Calculate weighted aggregative price index with Laspeyre's method from following data.
Items Base year Price Current Year Price Base year Quantity Current Year Quantity
A 40 60 12 15
B 20 24 8 10
C 50 55 12 15
D 50 55 12 15
E 30 42 20 22
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Q 346 Marks Question6 Marks
The consumer price index for June, $2005$ was $125$. The food index was $120$ and that of other items $135$. What is the percentage of the total weight given to food?
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