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Index Numbers
Find out Index value from the following data using Laspeyer’s method.
|
Item |
Base Year (Quantity) |
Base Year Price (Rs.) |
Current Year (Quantity) |
Current Year Price (Rs.) |
|
A |
4 |
15 |
5 |
20 |
|
B |
6 |
10 |
8 |
12 |
|
C |
5 |
8 |
3 |
16 |
|
D |
3 |
9 |
6 |
1 |
|
Item |
Q0 |
P0 |
Q1 |
P1 |
P1Q1 |
P0Q0 |
|
A |
4 |
15 |
5 |
20 |
80 |
60 |
|
B |
6 |
10 |
8 |
12 |
72 |
60 |
|
C |
5 |
8 |
3 |
16 |
80 |
40 |
|
D |
3 |
9 |
6 |
1 |
3 |
27 |
|
ΣP1Q0 = 235 |
ΣP0Q0=187 |
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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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