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Question
Choose the correct alternative:
Another name of consumer’s price index number is:
Options
Whole-sale price index number
Cost of living index
Sensitive
Composite
Solution
Cost of living index
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RELATED QUESTIONS
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Discuss about Cost of Living Index Number
Define family budget method
Choose the correct alternative:
Consumer price index are obtained by:
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?
Assertion and reasoning question:
- Assertion (A): The index number considers all factors.
- Reasoning (R): The index number is based on samples.
