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प्रश्न
Statements that are incorrect in relation to index numbers.
- An index number is a geographical tool.
- Index numbers measure changes in air pressure.
- Index numbers measure relative changes in an economic variable.
- Index numbers are specialized averages.
विकल्प
c and d
a and b
b and c
a and d
उत्तर
a and b
Explanation:
Index numbers are one of the most used statistical tools in economics. Index numbers are not directly measurable but represent relative changes. Index numbers are specialized averages that can be expressed in percentages.
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संबंधित प्रश्न
______ : Base year prices :: P1 : Current year prices
Explain the features of index numbers.
Device that measures changes in an economic variable or a group of variables over a period of time –
Find the odd word
Types of index numbers -
Index number was originally developed to measure ______.
Index number which is computed from a single variable called is a ______.
Assertion (A): Index numbers are statistical devices.
Reasoning (R): Index numbers measure only changes in the price level over a period of time.
Identify & explain the concept from the given illustration.
Bombay Stock Exchange has developed “Sensex” as a stock market index for reflecting the share prices of listed companies.
Define Index Number
State the uses of Index Number
Explain Paasche’s price index number
Write note on Fisher’s price index number
State the test of adequacy of index number
Define Time Reversal Test
Explain factor reversal test
Discuss about Cost of Living Index Number
Define family budget method
State the uses of cost of Living Index Number
Calculate by a suitable method, the index number of price from the following data:
| Commodity | 2002 | 2012 | ||
| Price | Quantity | Price | Quantity | |
| A | 10 | 20 | 16 | 10 |
| B | 12 | 34 | 18 | 42 |
| C | 15 | 30 | 20 | 26 |
Calculate price index number for 2005 by (a) Laspeyre’s (b) Paasche’s method
| Commodity | 1995 | 2005 | ||
| Price | Quantity | Price | Quantity | |
| A | 5 | 60 | 15 | 70 |
| B | 4 | 20 | 8 | 35 |
| C | 3 | 15 | 6 | 20 |
Compute (i) Laspeyre’s (ii) Paasche’s (iii) Fisher’s Index numbers for the 2010 from the following data.
| Commodity | Price | Quantity | ||
| 2000 | 2010 | 2000 | 2010 | |
| A | 12 | 14 | 18 | 16 |
| B | 15 | 16 | 20 | 15 |
| C | 14 | 15 | 24 | 20 |
| D | 12 | 12 | 29 | 23 |
Using Fisher’s Ideal Formula, compute price index number for 1999 with 1996 as base year, given the following:
| Year | Commodity: A | Commodity: B | Commodity: C | |||
| Price (Rs.) | Quantity (kg) | Price (Rs.) | Quantity (kg) | Price (Rs.) | Quantity (kg) | |
| 1996 | 5 | 10 | 8 | 6 | 6 | 3 |
| 1999 | 4 | 12 | 7 | 7 | 5 | 4 |
Calculate Fisher’s index number to the following data. Also show that it satisfies Time Reversal Test.
| Commodity | 2016 | 2017 | ||
| Price (Rs.) | Quantity (kg) | Price (Rs.) | Quantity (kg) | |
| Food | 40 | 12 | 65 | 14 |
| Fuel | 72 | 14 | 78 | 20 |
| Clothing | 36 | 10 | 36 | 15 |
| Wheat | 20 | 6 | 42 | 4 |
| Others | 46 | 8 | 52 | 6 |
The following are the group index numbers and the group weights of an average working class family’s budget. Construct the cost of living index number:
| Groups | Food | Fuel and Lighting |
Clothing | Rent | Miscellaneous |
| Index Number | 2450 | 1240 | 3250 | 3750 | 4190 |
| Weight | 48 | 20 | 12 | 15 | 10 |
Choose the correct alternative:
Another name of consumer’s price index number is:
Choose the correct alternative:
Laspeyre’s index = 110, Paasche’s index = 108, then Fisher’s Ideal index is equal to:
Choose the correct alternative:
Cost of living at two different cities can be compared with the help of
Choose the correct alternative:
Most commonly used index number is:
Choose the correct alternative:
Consumer price index are obtained by:
Choose the correct alternative:
Which of the following Index number satisfy the time reversal test?
Using the following data, construct Fisher’s Ideal Index Number and Show that it satisfies Factor Reversal Test and Time Reversal Test?
| Commodities | Price | Quantity | ||
| Base Year | Current Year | Base Year | Current Year | |
| Wheat | 6 | 10 | 50 | 56 |
| Ghee | 2 | 2 | 100 | 120 |
| Firewood | 4 | 6 | 60 | 60 |
| Sugar | 10 | 12 | 30 | 24 |
| Cloth | 8 | 12 | 40 | 36 |
Assertion and reasoning question:
- Assertion (A): The index number considers all factors.
- Reasoning (R): The index number is based on samples.
State with reasons whether you agree or disagree with the following statement:
Index number measures changes in the price level only.
Read the given passage and answer the questions:
|
Index Number is a technique of measuring changes in a variable or group of related variables with reference to time, geographical location and other characteristics. Index Number is very useful for economists, farmers, traders, government, educationalists and trade union leaders for planning and implementing the plans according to their sector. The scope of index number is not limited to only one subject but it extends to many subjects such as Economics, Educational science, Psychology, History, Sociology, Geography etc. While framing index number its objective must be determined. To attain the objective the information is collected in various ways and this information is used for comparing two different time periods. For this purpose, the base year’s index is assumed as 100 and accordingly the value of the current year is calculated. Laspeyre, Paasche and Fisher have suggested different methods for constructing index numbers. |
- Explain the meaning of Index Number.
- To whom the Index Number is useful?
- Express your opinion about the given passage.
Choose the correct pair.
| Group A | Group B |
| 1) Price Index | a) `(sump_1q_1)/(sump_0q_0)xx100` |
| 2) Value Index | b) `(sumq_1)/(sumq_0)xx100` |
| 3) Quantity Index | c) `(sump_1q_1)/(sump_0q_1)xx100` |
| 4) Paasche's Index | d) `(sump_1)/(sump_0)xx100` |
Find the odd word out:
Features of Index Number:
