Introduction to Index Number - Online Test
Q1. WPI stands for
Answer : Option D
Explaination / Solution:
No Explaination.
Q2. Index numbers are expressed in
Answer : Option A
Explaination / Solution:
No Explaination.
Q3. ________is the index showing changes in the Indian stock market
Answer : Option B
Explaination / Solution:
Initially compiled in 1986, the Sensex is the oldest stock index in India. Sensex is the index showing changes in the Indian stock market
Q4. In Laspear’s Index number _____ year quantities are used
Answer : Option D
Explaination / Solution:
The Laspeyres price index is an index formula used in price statistics for measuring the price development of the basket of goods and services consumed in the base period.
Q5. The Time series analysis helps to
Answer : Option C
Explaination / Solution:
Time series analysis is a statistical technique that deals with time series data, or trend analysis. Time series data means that data is in a series of particular time periods or intervals.
Q6. ____ mean importance assigned to different commodities included in the index
Answer : Option B
Explaination / Solution:
The term weight refers to the relative importance of the different items in the construction of index numbers.
Q7. ____ serves as an economic barometer
Answer : Option D
Explaination / Solution:
Index numbers are today one of the most widely used statistical devices. They, are used to feel the pulse of the economy and they have come to be used as indicators of inflationary or deflationary tendencies.
Q8. ____ are specialized type of averages
Answer : Option D
Explaination / Solution:
An index number is a specialised type of average. An average is a single figure representing a group of figures. Averages are used to compare two or more series as they represent their central tendencies.
Q9. Consumer price index numbers are prepared for
Answer : Option B
Explaination / Solution:
A consumer price index (CPI) measures changes in the price level of market basket of consumer goods and services purchased by all the households.
Q10. ____ does not study individual cases
Answer : Option B
Explaination / Solution:
Statistics does not give any specific importance to the individual items; in fact it deals with an aggregate of objects
