Class 11 Economics MCQ Chapter 21 Index Numbers Question Answer English Medium to each chapter is provided in the list so that you can easily browse through different chapters Class 11 Economics MCQ Chapter 21 Index Numbers and select need one. AHSEC Class 11 Economics Objective Type Solutions in English As Per AHSEC New Book Syllabus Download PDF. AHSEC Economics MCQ Class 11.
Class 11 Economics MCQ Chapter 21 Index Numbers
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Index Numbers
Chapter: 21
| PART – B : STATISTICS FOR ECONOMICS |
Choose the Correct Option:
1. What is the purpose of index numbers?
(i) To measure changes in variables over time.
(ii) To compare prices of commodities directly.
(iii) Both (i) and (ii).
(iv) None of the above.
Ans: (i) To measure changes in variables over time.
2. Why can’t the general price level be measured directly?
(i) Prices of different commodities are in different units.
(ii) Prices are not comparable.
(iii) Both (i) and (ii).
(iv) None of the above.
Ans: (iii) Both (i) and (ii).
3. Who constructed the first index number and in which year?
(i) Fisher, 1900.
(ii) Carli, 1764.
(iii) Laspeyres, 1871.
(iv) Marshall, 1895.
Ans: (ii) Carli, 1764.
4. What do index numbers measure?
(i) Absolute values.
(ii) Relative changes.
(iii) Both (i) and (ii).
(iv) None of the above.
Ans: (ii) Relative changes.
5. Which of the following is NOT a feature of index numbers?
(i) Expressed in percentages.
(ii) Measures net changes.
(iii) Measures only price changes.
(iv) Specialised type of average.
Ans: (iii) Measures only price changes.
6. The base year in index numbers is always taken as:
(i) 50
(ii) 100
(iii) 200
(iv) 0
Ans: (ii) 100
7. If the price index number is 250, it means the price has increased by:
(i) 150%
(ii) 250%
(iii) 100%
(iv) 50%
Ans: (i) 150%
8. Who defined index numbers as “devices for measuring differences in the magnitude of a group of related variables”?
(i) Spiegel.
(ii) Croxton and Cowden.
(iii) Keynes.
(iv) Marshall.
Ans: (ii) Croxton and Cowden.
9. Which of the following is NOT an index number?
(i) Price index.
(ii) Quantity index.
(iii) Value index.
(iv) Interest rate index.
Ans: (iv) Interest rate index.
10. What does a Price Index Number measure?
(i) Changes in quantity.
(ii) Changes in price.
(iii) Changes in income.
(iv) Changes in profit.
Ans: (ii) Changes in price.
11. Which index measures changes in wholesale prices?
(i) CPI.
(ii) WPI.
(iii) Value Index.
(iv) Quantity Index.
Ans: (ii) WPI.
12. The Consumer Price Index (CPI) is also known as:
(i) Retail Price Index.
(ii) Cost of Living Index.
(iii) Both (i) and (ii).
(iv) None of the above.
Ans: (iii) Both (i) and (ii).
13. What does a Quantity Index Number measure?
(i) Price changes.
(ii) Changes in quantity.
(iii) Changes in consumer expenditure.
(iv) Changes in wholesale price.
Ans: (ii) Changes in quantity.
14. Which of the following is an example of a Quantity Index Number?
(i) Consumer Price Index.
(ii) Wholesale Price Index.
(iii) Index of Industrial Production.
(iv) Value Index.
Ans: (iii) Index of Industrial Production.
15. What does a Value Index Number measure?
(i) Changes in total value.
(ii) Changes in quantity.
(iii) Changes in consumer price.
(iv) Changes in profit.
Ans: (i) Changes in total value.
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