MCQ Class 11 Economics Chapter 7 Index Numbers

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Statistics for Economics

MCQ’s For All Chapters – Economics Class 11th

1. Whose formula is considered ideal for the construction of index number?

Question 1 of 20

2. Fisher’s Ideal index is the:

Question 2 of 20

3. Price Relatives = Current Year Price /?×100

Question 3 of 20

4. In notation P01, 1 stand for:

Question 4 of 20

5. p01=Σp1q0/Σp0q0×100 is the formula of:

Question 5 of 20

6. Fisher's method of calculating index numbers is based on:

Question 6 of 20

7. Fisher's index number is considered ideal because:

Question 7 of 20

8. Consumer Price Index is also known as:

Question 8 of 20

9. The Paasche’s index number is based on:

Question 9 of 20

10. Index number for the base period is always taken as:

Question 10 of 20

11. Indices calculated by the chain base method are free from:

Question 11 of 20

12. Index numbers helps in _____

Question 12 of 20

13. A monthly price index that uses the price changes in consumer goods and services for measuring the changes in consumer prices over time is known as the

Question 13 of 20

14. The aggregate index formula using base period quantities is known as:

Question 14 of 20

15. Cost of living index is known as …………

Question 15 of 20

16. From the following which is not a problem in the construction of Index numbers?

Question 16 of 20

17. The index used to measure changes in total money value is called:

Question 17 of 20

18. ____ mean importance assigned to different commodities included in the index

Question 18 of 20

19. We use price index numbers:

Question 19 of 20

20. The best average for constructing an index number is:

Question 20 of 20

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