## MCQs Index Numbers Quiz 4

Multiple Choice Questions from Introductory Statistics for the preparation of exams and different tests. This page includes the MCQs Index Numbers Quiz for the preparation of different statistics and job-related examinations. Let us start with the Online MCQs Index Numbers Quiz, which is the fourth quiz on index numbers.

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

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

3. Weighted price index numbers include

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

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

6. The weights used in the price index are

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

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

9. 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

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

11. Express the following average weekly wages as index numbers with base 1998.

12. Which index number may be weighted

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

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

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

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

17. 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

18. The most suitable average for index numbers is

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

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

• Construction of Index Numbers follows steps (i) Object of Index Number, (ii) Choice of items, (iii) Choice of Base Period, (iv) Collection of Prices of Items, (v) Choice of Average, (vi) Selection of Proper Weights
• Fixed Base Method
• Chain Base Method
• Composite Index Numbers
• Un-weighted index Numbers which include (i) Simple Aggregative Index Numbers, (ii) Simple Average of Relatives Index Numbers
• Weighted Index Numbers which include (i) Weighted Aggregative Index Numbers, (ii) Weighted Average of Relatives Index Numbers
• The Weighted Aggregative Index Numbers include (i) Laspeyre’s Index Number, (ii) Paasche’s Index Number, (iii) Fisher Idea Index Number, Value Index Number,
• Consumer Price Index Numbers. The important steps in the construction of CPI numbers include (i) Choosing the class of people, (ii) Selection of commodities, (iii) Budget Inquiry, (iv) Collection of Prices, (v) Calculation of CPI Numbers

### 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: The percentage increase in the price between 2002 and 2004 is nearest to
• 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
• 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 number 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

Index numbers are used in many fields to track changes and trends over time and they provide a valuable tool for understanding economic conditions, business performance, and even your budget!

## MCQs Index Number 3

Multiple Choice Questions from Introductory Statistics for the preparation of exams and different tests. This page includes the MCQs Index Number test for the preparation of different statistics and job-related examinations. Let us start with the MQCs index number quiz, which is the third MCQs index number Test.

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• Construction of Index Numbers follows steps (i) Object of Index Number, (ii) Choice of items, (iii) Choice of Base Period, (iv) Collection of Prices of Items, (v) Choice of Average, (vi) Selection of Proper Weights
• Fixed Base Method
• Chain Base Method
• Composite Index Numbers
• Un-weighted index Numbers which include (i) Simple Aggregative Index Numbers, (ii) Simple Average of Relatives Index Numbers
• Weighted Index Numbers which include (i) Weighted Aggregative Index Numbers, (ii) Weighted Average of Relatives Index Numbers
• The Weighted Aggregative Index Numbers include (i) Laspeyre’s Index Number, (ii) Paasche’s Index Number, (iii) Fisher Idea Index Number, Value Index Number,
• Consumer Price Index Numbers. The important steps in the construction of CPI numbers include (i) Choosing the class of people, (ii) Selection of commodities, (iii) Budget Inquiry, (iv) Collection of Prices, (v) Calculation of CPI Numbers

### MCQs Index Number

• How many steps are involved in the construction of the index number of prices:
• The circular test is satisfied for
• Which of the following indexes has a downward bias?
• The consumer price index number is also known as
• To measure changes in total monetary worth, one should compute:
• If an index number calculations over 8 years with a base value of 100 gave an index for 2015 of 120, what would be the percentage relative for 2015?
• Which of the following describes the advantage of using the Laspeyer’s method?
• When computing a weighted average of the relative index, we would be best able to compare indices from various periods if:
• Commodities subject to considerable price variations could best be measured by
• A primary difference between the average of relatives and aggregate methods is that
• A base period can be described as a normal period if:
• The weights used in a quantity index are:
• To measure how much the cost of some variable changes over time, we would use
• When the base year values are used as weights, the weighted average of the relative price index is the same as
• Depression in a business is?
• Which method of construction of consumer price index number is the Laspeyres’ index number?
• The prices used in the construction of consumer price index numbers are:
• The Circular test is satisfied by:
• Which of the following indices satisfies both the time reversal and factor reversal tests?
• Commodities subject to considerable price variation should best be measured by:

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## MCQs on Index Numbers Quiz 2

Multiple Choice Questions from Introductory Statistics for the preparation of exams and different tests. This page includes the MCQs on Index Numbers quiz for the preparation of different statistics and job-related examinations. Let us start with the MCQs on index numbers quiz, which is the second quiz on MCQs on index numbers.

Please go to MCQs on Index Numbers Quiz 2 to view the test

• Construction of Index Numbers follows steps (i) Object of Index Number, (ii) Choice of items, (iii) Choice of Base Period, (iv) Collection of Prices of Items, (v) Choice of Average, (vi) Selection of Proper Weights
• Fixed Base Method
• Chain Base Method
• Composite Index Numbers
• Un-weighted index Numbers which include (i) Simple Aggregative Index Numbers, (ii) Simple Average of Relatives Index Numbers
• Weighted Index Numbers which include (i) Weighted Aggregative Index Numbers, (ii) Weighted Average of Relatives Index Numbers
• The Weighted Aggregative Index Numbers include (i) Laspeyre’s Index Number, (ii) Paasche’s Index Number, (iii) Fisher Idea Index Number, Value Index Number,
• Consumer Price Index Numbers. The important steps in the construction of CPI numbers include (i) Choosing the class of people, (ii) Selection of commodities, (iii) Budget Inquiry, (iv) Collection of Prices, (v) Calculation of CPI Numbers

### MCQs on Index Numbers

• All values of equal importance are used in calculating an index, the index is called:
• The Basic types of index numbers are:
• The weights used in a quantity index are:
• A relative obtained by dividing the price in a given year price in the base year and expressed as a percentage is called:
• A relative obtained by dividing the price in a given year by the price in the proceeding year and expressed as a percentage is called:
• In simple price index numbers, the base period is
• In chain base methods the base period is:
• For calculating weighted index numbers, which of the following methods are useful quantities consumed in the base period as weight:
• $P_{on} = \frac{\Sigma p_n q_n}{\Sigma p_0 q_n}\times 100$ is the formula of:
• The time reversal test is satisfied by
• The index number for the base year is
• An index number that can serve many purposes is called
• The index numbers used to measure the changes in the price of commodities is called
• Consumer’s price index numbers are calculated by:
• The variation in two or more variables studied by the index is called:
• In Laspeyre’s Price Index, the quantities use weight related to
• Commodities subject to considerable price variations can best be measured by a
• The weights used in a quantity index are
• Theoretically, the best average used in the construction of a composite index is
• Which of the following price indices are prepared by the Federal Bureau of Statistics?

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## Important MCQs Index Numbers 1

Multiple Choice Questions from Introductory Statistics for the preparation of exams and different tests. This post includes the MCqs Index Numbers for the preparation of different statistics and job-related examinations. Let us start with the MCQs index numbers, which is the first quiz of index numbers.

Please go to Important MCQs Index Numbers 1 to view the test

• Construction of Index Numbers follows steps (i) Object of Index Number, (ii) Choice of items, (iii) Choice of Base Period, (iv) Collection of Prices of Items, (v) Choice of Average, (vi) Selection of Proper Weights
• Fixed Base Method
• Chain Base Method
• Composite Index Numbers
• Un-weighted index Numbers which include (i) Simple Aggregative Index Numbers, (ii) Simple Average of Relatives Index Numbers
• Weighted Index Numbers which include (i) Weighted Aggregative Index Numbers, (ii) Weighted Average of Relatives Index Numbers
• The Weighted Aggregative Index Numbers include (i) Laspeyre’s Index Number, (ii) Paasche’s Index Number, (iii) Fisher Idea Index Number, Value Index Number,
• Consumer Price Index Numbers. The important steps in the construction of CPI numbers include (i) Choosing the class of people, (ii) Selection of commodities, (iii) Budget Inquiry, (iv) Collection of Prices, (v) Calculation of CPI Numbers

### MCQs Index Numbers

• The index number that can be used for multi-purpose is:
• An index number computed for a single commodity is called
• The __________ index number has a wide scope
• The price relative formula is $\frac{?}{P0}\times 100$
• The index for the base period is always taken as
• In the fixed base method, the base period should be
• The commodities subject to considerable price variations can be best measured by
• In the chain base method, the base period is
• The chaining process used to make a comparison of the index number is
• Price relatives computed for the chain base method are called
• The most suitable average for index numbers is
• Index numbers are free from a unit of measurement because the index number shows
• Long-term variations are regarded as
• Paasche’s price index number is also called
• The index number having an upward bias is
• The index give by $\frac{\sum p_n q_n}{\sum p_0 q_0}\times 100$
• If Laspeyre’s index number is 200, and Paasche’s index number is 200 then the Fisher index number will be
• Increased demand for coolers in summer and heaters in winter is an example of
• The price used in the construction of consumer price index numbers is
• __________ method uses quantities consumed in the base period when computing a weighted index