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Statistics MCQ

PART 1 : INDEX NUMBER · Gujarat Board (GSEB) STD 12 Commerce (GSEB - English Medium). 18 questions.

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18 questions · timed · auto-graded

MCQ 11 Mark
Which index number is useful to determine the foreign exchange requirement in the country ?
  • A
    Index number of national income
  • ✓
    Index number of import export
  • C
    Index number of industrial production
  • D
    Wholesale price index number
Answer
Correct option: B.
Index number of import export
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MCQ 21 Mark
How should be the base year ?
  • A
    Year of economic disturbance
  • B
    Year of emergency
  • ✓
    Year of normal events
  • D
    Year of natural calamities
Answer
Correct option: C.
Year of normal events
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MCQ 31 Mark
Which index number is used to decide the rate of inflation?
  • A
    Cost of living index number
  • B
    Index number of national income
  • ✓
    Wholesale price index number
  • D
    Index number of import export
Answer
Correct option: C.
Wholesale price index number
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MCQ 41 Mark
Which index number is useful to obtain the real income ?
  • A
    Wholesale price index number
  • B
    Index number of national income
  • ✓
    Cost of living index number
  • D
    Index number of human development
Answer
Correct option: C.
Cost of living index number
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MCQ 51 Mark
If the price of an item increased by three and half times in the current year as compared to the base year, what is the price index number ?
  • ✓
    $450$
  • B
    $425$
  • C
    $350$
  • D
    $325$
Answer
Correct option: A.
$450$
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MCQ 61 Mark
If the cost of living index number of the current year is $125$ with respect to the base year, what is the purchasing power of money in the current year ?
  • A
    $1.00$
  • B
    $0.50$
  • C
    $0.90$
  • ✓
    $0.80$
Answer
Correct option: D.
$0.80$
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MCQ 71 Mark
Which index number is used to decide the dearness allowance of workers?
  • A
    Index number of national income
  • B
    Index number of trade
  • ✓
    Cost of living index number
  • D
    Fisher's index number
Answer
Correct option: C.
Cost of living index number
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MCQ 81 Mark
Which index number is same as the index number obtained by family budget method ?
  • A
    Fisher's index number
  • B
    Bowley's index number
  • ✓
    Laspeyre's index number
  • D
    Marshall's index number
Answer
Correct option: C.
Laspeyre's index number
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MCQ 91 Mark
What is the formula of obtaining the index number by family budget method ?
  • A
    $\frac{\Sigma I W}{\Sigma W} \times 100$
  • ✓
    $\frac{\Sigma I W}{\Sigma W}$
  • C
    $\frac{\Sigma I W}{\Sigma I} \times 100$
  • D
    $\frac{\Sigma I W}{\Sigma I}$
Answer
Correct option: B.
$\frac{\Sigma I W}{\Sigma W}$
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MCQ 101 Mark
Which weight is assigned as expenditure to the price relatives $\frac{p_1}{p_0}$ of the items to obtain formula for Laspeyre's index number ?
  • ✓
    $p_0 q_0$
  • B
    $p_1 q_0$
  • C
    $p_0 q_1$
  • D
    $p_1 q_1$
Answer
Correct option: A.
$p_0 q_0$
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MCQ 111 Mark
Which average is practically used for the calculation of index number ?
  • ✓
    Weighted mean
  • B
    Geometric mean
  • C
    Mean
  • D
    Mode
Answer
Correct option: A.
Weighted mean
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MCQ 121 Mark
In the calculation of which index number, only base year quantities are considered ?
  • A
    Bowley's index number
  • B
    Fisher's index number
  • ✓
    Laspeyre's index number
  • D
    Paasche's index number
Answer
Correct option: C.
Laspeyre's index number
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MCQ 131 Mark
In which method of index number does the base year change every year ?
  • A
    Total expenditure method
  • B
    Fixed base method
  • C
    Weighted average method
  • ✓
    Chain base method
Answer
Correct option: D.
Chain base method
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MCQ 141 Mark
Which weight can not be expressed numerically in the calculation of index number ?
  • A
    Explicit weight
  • ✓
    Implicit weight
  • C
    Absolute weight
  • D
    Free weight
Answer
Correct option: B.
Implicit weight
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MCQ 151 Mark
Which index number gives idea of the standard of living of people?
  • A
    Paasche's index number
  • B
    Chain base index number
  • C
    Fisher's index number
  • ✓
    Cost of living index number
Answer
Correct option: D.
Cost of living index number
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MCQ 161 Mark
Which average is theoretically considered as the best average in the construction of index number?
  • A
    Weighted mean
  • ✓
    Geometric mean
  • C
    Arithmetic mean
  • D
    Harmonic mean
Answer
Correct option: B.
Geometric mean
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MCQ 171 Mark
Which formula of index number is said to be the ideal index number formula ?
  • A
    Paasche's formula
  • B
    Bowley's formula
  • C
    Laspeyre's formula
  • ✓
    Fisher's formula
Answer
Correct option: D.
Fisher's formula
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MCQ - Statistics STD 12 Commerce Questions - Vidyadip