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Question
Find the odd word out:
Types of Simple Index Number:
Options
Laspeyre’s Price Index Number
Price Index Number
Quantity Index Number
Value Index Number
MCQ
One Word/Term Answer
Solution
Laspeyre’s Price Index Number
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Statements that apply to weighted index numbers.
- Every commodity is given equal importance.
- It assigns suitable 'weights' to various commodities.
- In most cases, quantities are used as weights.
- Laaspeyre's and Paasche's method is used in the calculation of weighted index numbers.
Choose the correct pair:
| Group A | Group B |
| 1) Price Index | a) `(∑"p"_1"q"_1)/(∑"p"_0"q"_0)xx100` |
| 2) Value Index | b) `(∑"q"_1)/(∑"q"_0)xx100` |
| 3) Quantity Index | c) `(∑"p"_1"q"_1)/(∑"p"_0"q"_1)xx100` |
| 4) Paasche's Index | d) `(∑"p"_1)/(∑"p"_0)xx100` |
Distinguish between:
Simple Index Numbers and Weighted Index Numbers.
- Assertion (A): In Simple Index number, every commodity is given equal importance.
- Reasoning (R): Simple index number includes price index and quantity index.
Statements that highlight the significance of index numbers.
- Every commodity is given equal importance.
- It assigns suitable 'weights' to various commodities.
- In most of the cases, quantities are used as weights.
- Laaspeyre's and Paasche's method is used in the calculation of weighted index numbers.
Statements that apply to weighted index numbers.
- Every commodity is given equal importance.
- It assigns suitable 'weights' to various commodities.
- In most of the cases, quantities are used as weights
- Laaspeyre's and Paasche's method is used in the calculation of weighted index numbers.
Statements that apply to weighted index numbers.
- Every commodity is given equal importance
- It assigns suitable 'weights' to various commodities.
- In most of the cases, quantities are used as weights.
- Laaspeyre's and Paasche's method is used in the calculation of weighted index numbers.
Statements that apply to weighted index numbers.
- Every commodity is given equal importance.
- It assigns suitable 'weights' to various commodities.
- In most of the cases, quantities are used as weights.
- Laaspeyre's and Paasche's method is used in the calculation of weighted index numbers.
Choose the correct option:
| Group A | Group B |
| 1) Price Index | a) `(sum"p"_1"q"_1)/(sum"p"_0"q"_0) × 100` |
| 2) Value Index | b) `(sum"q"_1)/(sum"q"_0) xx 100` |
| 3) Quantity Index | c) `(sum"p"_1"q"_1)/(sum"p"_0"q"_1) xx 100` |
| 4) Paasche's Index | d) `(sum"p"_1)/(sum"p"_0) xx 100` |
Distinguish between:
Laspeyre's Index Number and Paasche's Index Number.
What is the distinctive feature of Paasche's Index Number?
Explain the steps in constructing Paasche's Index Number.
Distinguish between:
Simple Index Number and Weighted Index Number
Statements that apply to weighted index numbers.
- Every commodity is given equal importance.
- It assigns suitable 'weights' to various commodities
- In most of the cases, quantities are used as weights.
- Laaspeyre's and Paasche's method is used in the calculation of weighted index numbers.
Choose the correct pair :
| Group A | Group B |
| 1) Price Index | a) `(∑p_1q_1) / (∑p_0q_0) xx 100` |
| 2) Value Index | b) `(∑q_1) / (∑q_0) xx 100` |
| 3) Quantity Index | c) `(∑p_1q_1) / (∑p_0q_0) xx 100` |
| 4) Paasche's Index | d) `(∑p_1) / (∑p_0) xx 100` |
Statements that apply to weighted index numbers.
- Every commodity is given equal importance.
- It assigns suitable 'weights' to various commodities.
- In most of the cases, quantities are used as weights.
- Laaspeyre's and Paasche's method is used in the calculation of weighted index numbers.
Statements that apply to weighted index numbers.
- Every commodity is given equal importance.
- It assigns suitable 'weights' to various commodities.
- In most of the cases, quantities are used as weights.
- Laaspeyre's and Paasche's method is used in the calculation of weighted index numbers.
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` |
Statements that apply to weighted index numbers.
- Every commodity is given equal importance.
- It assigns suitable 'weights' to various commodities.
- In most of the cases, quantities are used as weights.
- Laaspeyre's and Paasche's method is used in the calculation of weighted index numbers.
Choose the correct pair:
| Group A | Group B | ||
| 1) | Price Index | a) | `(sum p_1q_1)/(sum p_0q_0) xx 100` |
| 2) | Value Index | b) | `(sum q_1)/(sum q_0) xx 100` |
| 3) | Quantity Index | c) | `(sum p_1q_1)/(sum p_0q_1) xx 100` |
| 4) | Paasche's Index | d) | `(sum p_1)/(sum p_0) xx 100` |
Statements that apply to weighted index numbers.
- Every commodity is given equal importance.
- It assigns suitable 'weights' to various commodities.
- In most of the cases, quantities are used as weights.
- Laaspeyre's and Paasche's method is used in the calculation of weighted index numbers.
Statements that apply to weighted index numbers.
- Every commodity is given equal importance
- It assigns suitable 'weights' to various commodities.
- In most of the cases, quantities are used as weights.
- Laaspeyre's and Paasche's method is used in the calculation of weighted index numbers.
Choose the correct pair:
| Group A | Group B |
| 1) Price Index | a) `(∑"p"_1"q"_1)/(∑"p"_0"q"_0)xx100` |
| 2) Value Index | b) `(∑"q"_1)/(∑"q"_0)xx100` |
| 3) Quantity Index | c) `(∑"p"_1"q"_1)/(∑"p"_0"q"_1)xx100` |
| 4) Paasche's Index | d) `(∑"p"_1)/(∑"p"_0)xx100` |
Statements that apply to weighted index numbers.
- Every commodity is given equal importance.
- It assigns suitable 'weights' to various commodities.
- In most of the cases, quantities are used as weights.
- Laaspeyre's and Paasche's method is used in the calculation of weighted index numbers.
Choose the correct pair:
| Group A | Group B |
| 1) Price Index | a) `(∑"p"_1"q"_1)/(∑"p"_0"q"_0)xx100` |
| 2) Value Index | b) `(∑"q"_1)/(∑"q"_0)xx100` |
| 3) Quantity Index | c) `(∑"p"_1"q"_1)/(∑"p"_0"q"_1)xx100` |
| 4) Paasche's Index | d) `(∑"p"_1)/(∑"p"_0)xx100` |
Statements that apply to weighted index numbers.
- Every commodity is given equal importance.
- It assigns suitable 'weights' to various commodities.
- In most of the cases, quantities are used as weights.
- Laaspeyre's and Paasche's method is used in the calculation of weighted index numbers.
Choose the correct pair:
| Group A | Group B | ||
| 1) | Price Index | a) | `(sump_1q_1)/(sump_0q_0) xx 100` |
| 2) | Value Index | b) | `(sumq_1)/(sumq0)xx100` |
| 3) | Quantity Index | c) | `(sump_1q_1)/(sump_0q_1)xx100` |
| 4) | Paasche's Index | d) | `(sump_1)/(sump_0)xx100` |
Statements that apply to weighted index numbers.
- Every commodity is given equal importance.
- It assigns suitable 'weights' to various commodities.
- In most of the cases, quantities are used as weights.
- Laaspeyre's and Paasche's method is used in the calculation of weighted index numbers.
Choose the correct pair:
| Group A | Group B |
| 1) Price Index | a) `(sump_1q_1)/(sump_0q_0) xx 100` |
| 2) Value Index | b) `(sumq_1)/(sumq_0) xx 100` |
| 3) Quantity Index | c) `(sump_1q_1)/(sump_0q_1) xx 100` |
| 4) Paasche's Index | d) `(sump_1)/(sump_0) xx 100` |
