Q1. In simple aggregate method, the aggregate price of all items in the given year is expressed as percentage of the same in the
(a) current year
(b) base year
(c) Quarterly
(d) half yearly
Correct Answer (b) base year
Q2. If the index for 1990 to the base 1980 is 250, the index number for 1980 to the base 1990 is
(a) 4
(b) 400
(c) 40
(d) 4000
Correct Answer (c) 40
Q3. If Laspeyre’s price index is 324 and Paasche’s price index is 144, then Fisher’s ideal index is
(a) 234
(b) 243
(c) 261
(d) 216
Correct Answer (d) 216
Q4. The index that satisfies factor reversal test is
(a) Paasche’s Index
(b) Laspeyre’s Index
(c) Fisher’s Ideal Index
(d) Walsh price index
Correct Answer (c) Fisher’s Ideal Index
Q5. The Dorbish-Bowley’s price index is the
(a) geometric mean of Laspeyre’s and Paasche’s Price indices
(b) arithmetic mean of Laspeyre’s and Paasche’s Price indices
(c) weighted mean of Laspeyre’s and Paasche’s Price indices
(d) weighted mean of Laspeyre’s and Paasche’s quantity indices
Correct Answer (b) arithmetic mean of Laspeyre’s and Paasche’s Price indices
Q6. The condition for the time reversal test to hold good with usal notation is
(a) P01 x P10 =1
(b) P01 – P10 =1
(c) P01 + P10=1
(d) P01 /P10 =1
Correct Answer (a) P01 x P10 =1
Q7. The geometric mean of Laspeyre’s and Paasche’s price indices is also known as
(a) Dorbish – Bowley’s price index
(b)Kelly’s price index
(c) Fisher’s price index
(d) Walsh price index
Correct Answer (c) Fisher’s price index
Q8. The index number for 1985 to the base 1980 is 125 and for 1980 to the base 1985 is 80. The given indices satisfy
(a) circular test
(b) factor reversal test
(c) time reversal test
(d) Marshall-Edgeworth test
Correct Answer (c) time reversal test
Q9. The consumer price index numbers for 1981 and 1982 to the base 1974 are 320 and 400 respectively. The consumer price index for 1981 to the base 1982 is
(a) 80
(b) 128
(c) 125
(d) 85
Correct Answer (a) 80
Q10. The consumer price index in 2000 increases by 80% as compared to the base 1990. A person I 1990 getting Rs. 60,000 per annum should now get:
(a) Rs. 1,08,000 p.a.
(b) Rs. 1,02,000 p.a.
(c) Rs. 1,18,000 p.a.
(d) Rs. 1,80,000 p.a.
Correct Answer (a) Rs. 1,08,000 p.a.
