Important MCQs Index Numbers Quiz 4

The post is about the MCQs Index Numbers Quiz. There are 20 multiple-choice questions covering the basics of index numbers, weighted index numbers, price index numbers, chain base methods, and price relatives. Let us start with the MCQs Index Numbers Quiz.

Multiple Choice Questions about Index Number. The test about Index Numbers for the preparation of FPSC Statistical Officer will help you in online preparation for the post of Lecturers, Statistical Officers, and other statistics related jobs.

1. In the fixed base method, the base period should be

 Abnormal

 Far distant

 Normal

 Middle

2. In the chain base method, the base period is

 Constant

 Fixed

 Changed

 None of these

3. Index numbers computed by considering the relative importance of variables are called

 Simple

 Un-weighted

 Weighted

 None of these

4. If all the items are given equal weights the index number is called

 None of these

 Weighted

 Simple

 Un-weighted

5. The following table shows the index of prices (1995=100) for a certain commodity over the period 1995-2000:

It has been decided to rebase the index so that 2005=100. The index for 2003 will now be nearest to

 193.1

 119.7

 139.4

 125.0

6. Price relatives computed for the chain base method are called

 Chain relative

 Link relative

 Simple indices

 Price relative

7. If the average wages index for 2003 at constant 1998 prices were to be 96, which of the following comments would be correct?

 The average wages in2003 could buy 4 percent less than in 1998

 The average wage in 2003 could buy 4 percent more than in 1998

 The average wages in 2003 were 4 percent more than in 1998

 The average prices in 2003 were 4 percent less than in 1998

8. If the index for 2003 were to be 116 and the RPI 204, express the index for 2003 at constant 1998 prices.

 97.8

 100

 98.7

 90.0

9. The weights used in the price index are

 Average of prices

 None of these

 Quantities

 Percentage of the total price

10. Which index number may be weighted

 Composite

 Simple

 Fisher

 Both (a) and (b)

11. The most suitable average for index numbers is

 Geometric mean

 Arithmetic mean

 Harmonic mean

 Median

12. The following table shows the index of prices (1995=100) for a certain commodity over the period 1995-2000:

The percentage increase in the price between 2002 and 2004 is nearest to

 21.74

 10.43

 100.00

 32.17

13. The chaining process used to make a comparison of the index numbers is

 Fisher ideal

 Fixed base method

 Link relative method

 None of these

14. Weighted price index numbers include

 Laspeyre’s index

 Fisher’s ideal index

 All of these

 Paasche’s index

15. If all values are not of equal importance the index number is called

 Weighted

 Simple

 Un-weighted

 None of these

16. In index numbers __________ can be used as the average

 Mode

 Quartiles

 Median

 None of these

17. Commodities subject to considerable price variations can best be measured by a

 None of these

 Quantity index

 Value index

 Price index

18. Price relative = $\frac{?}{p_0}\times$

 $ q_n $

 $ p_n $

 $ p_0 $

 $ q_0 $

19. The index for the base period is always taken as

 Zero

 100

 One

 200

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Online MCQs Index Numbers Quiz

• Express the following average weekly wages as index numbers with base 1998.
• If the index for 2003 were to be 116 and the RPI 204, express the index for 2003 at constant 1998 prices.
• If the average wages index for 2003 at constant 1998 prices were to be 96, which of the following comments would be correct?
• The following table shows the index of prices (1995=100) for a certain commodity over the period 1995-2000:It has been decided to rebase the index so that 2005=100. The index for 2003 will now be nearest to
• The following table shows the index of prices (1995=100) for a certain commodity over the period 1995-2000: The percentage increase in the price between 2002 and 2004 is nearest to
• Price relative = $\frac{?}{p_0}\times$
• The index for the base period is always taken as
• In the fixed base method, the base period should be
• Commodities subject to considerable price variations can best be measured by a
• In the chain base method, the base period is
• The chaining process used to make a comparison of the index numbers is
• Price relatives computed for the chain base method are called
• In index numbers ———- can be used as the average
• The most suitable average for index numbers is
• If all the items are given equal weights the index number is called
• If all values are not of equal importance the index number is called
• Which index number may be weighted
• Index numbers computed by considering the relative importance of variables are called
• The weights used in the price index are
• Weighted price index numbers include

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