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प्रश्न
An Enquiry was made into the budgets of the middle class families in a city gave the following information.
| Expenditure | Food | Rent | Clothing | Fuel | Rice |
| Price(2010) | 150 | 50 | 100 | 20 | 60 |
| Price(2011) | 174 | 60 | 125 | 25 | 90 |
| Weights | 35 | 15 | 20 | 10 | 20 |
What changes in the cost of living have taken place in the middle class families of a city?
उत्तर
| Expenditure | Base Year Price 2010 (p0) |
Current Year Price 2011 (p1) |
Weight (W) |
P = `"p"_1/"p"_0 xx 100`PW | PW |
| Food | 150 | 174 | 35 | 116 | 4060 |
| Rent | 50 | 60 | 15 | 120 | 1800 |
| Clothing | 100 | 125 | 20 | 125 | 2500 |
| Fuel | 20 | 25 | 10 | 125 | 1250 |
| Rice | 60 | 90 | 20 | 150 | 3000 |
| Total | 100 | 12610 | |||
Cost of living index number = `(sum"PW")/(sum"W")`
= `12610/100`
= 126.1
For the middle-class families of the city, the cost of living has increased up to 26.1 % in 2011 as compared to 2010.
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संबंधित 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.
State with reason whether you agree or disagree with the following statement:
Index numbers measure changes in the price level only.
Find the odd word
Types of index numbers -
Index number was originally developed to measure ______.
Explain factor reversal test
Define family budget method
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 |
Choose the correct alternative:
Laspeyre’s index = 110, Paasche’s index = 108, then Fisher’s Ideal index is equal to:
Choose the correct alternative:
Which of the following Index number satisfy the time reversal test?
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` |
