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Index Numbers
f the salary of a person in the base year was Rs. 3000 per annum and his current year salary is Rs. 10,000. By how much should his salary rise to maintain the same standard of living if CPI is 526.
o maintain the same standard of living
a man’s salary should be Rs. 15780
so the salary should be raised Rs. 15780 This salary should be added by Rs. 5780.
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In general, inflation is calculated by using:
The item having the highest weight in consumer’s price index for industrial workers is:
consumer price index measures changes in:
The wholesale price index.
D.A. paid to the workers is based on:
Why do we need an index number?
Why is it essential to have different CPIs for different categories of consumers?
What does a consumer price index for industrial workers measure?
What is the difference between a price index and a quantity index?
Is the change in any price reflected in price index number?
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