Q1.The base year for index numbers should be…………..
Answer : Option BExplaination / Solution:
The base year for any index number is routinely updated. That year in which there are Minimum cyclical fluctuations
Q4.Suppose we want to know the average changes in the price of a set of commodities in 2010 with respect to the prices of same set of commodities in 2008. In this case what will be the base year?
Answer : Option CExplaination / Solution: No Explaination.