TextBook Solutions for Jharkhand Academic Council Class 11 Statistics Statistics For Economics Chapter 8 Index Numbers

As index number which accounts for the relative importance of the items is knwon as:

• weighted Index

   

• simple aggregative Index

   

• simple average of relatives

In most of the weighted index numbers the weight pertains to:

•  base year

   

• current year

• both base and current year

The impact of change in the price of a commodity with little weight in the index will be:

• small

   

• large

• uncertain

A consumer price index measures changes in:

• retail prices

   

•  whole sale prices

• production prices

The item having the highest weight in consumer price index for industrial workers is:

• food

   

• housing

• clothing

In general, inflation is calculated by using:

• wholesale price index

   

• consumer price index

• producer’s price index

 The item having the highest weight in consumer’s price index for industrial workers is:

• Medicine

   

•  Housing

   

• Food

• Clothing

consumer price index measures changes in:

• Wholesale prices

   

•  Retail prices

   

• Producer’s prices

• All of above

The wholesale price index.

• measures changes in the level of industrial production

   

• indicates changes in the general price level

   

• is considered the appropriate indicator of general inflation

   

• measures the economic growth of a country.

D.A. paid to the workers is based on:

• Consumer price index

   

•  Wholesale price index

   

• Industrial production index

   

• The economic development