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प्रश्न
Assertion (A): Index numbers are statistical devices.
Reasoning (R): Index numbers measure only changes in the price level over a period of time.
विकल्प
(A) is True but (R) is False.
(A) is False but (R) is True.
Both (A) and (R) are True and (R) is the correct explanation of (A).
Both (A) and (R) are True and (R) is not the correct explanation of (A).
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उत्तर
(A) is True but (R) is False.
APPEARS IN
संबंधित प्रश्न
Statements that are incorrect in relation to index numbers:
- An index number is a geographical tool.
- Index numbers measure changes in air pressure.
- Index numbers measure relative changes in an economic variable.
- Index numbers are specialized averages.
______ : Base year prices :: P1 : Current year prices.
State with reason whether you agree or disagree with the following statement:
Index numbers measure changes in the price level only.
State with reasons whether you agree or disagree with the following statement:
Index numbers can be constructed without the base year.
Explain the features of index numbers.
Features of index numbers:
- It is useful in framing suitable economic policies.
- It is useful to present financial data in real terms
- Index numbers are statistical devices.
- Index numbers are specialized averages.
Device that measures changes in an economic variable or a group of variables over a period of time –
Find the odd word
Types of index numbers -
Index number which is computed from a single variable called is a ______.
Identify & explain the concept from the given illustration.
Bombay Stock Exchange has developed “Sensex” as a stock market index for reflecting the share prices of listed companies.
Construct Quantity index number from the given data:
| Commodity | A | B | C | D | E |
| Base year quantities | 170 | 150 | 100 | 195 | 205 |
| Current year quantities | 90 | 70 | 75 | 150 | 95 |
Mention the classification of Index Number
Explain Paasche’s price index number
State the test of adequacy of index number
Define Time Reversal Test
Explain factor reversal test
Define family budget method
State the uses of cost of Living Index Number
Calculate by a suitable method, the index number of price from the following data:
| Commodity | 2002 | 2012 | ||
| Price | Quantity | Price | Quantity | |
| A | 10 | 20 | 16 | 10 |
| B | 12 | 34 | 18 | 42 |
| C | 15 | 30 | 20 | 26 |
Calculate price index number for 2005 by (a) Laspeyre’s (b) Paasche’s method
| Commodity | 1995 | 2005 | ||
| Price | Quantity | Price | Quantity | |
| A | 5 | 60 | 15 | 70 |
| B | 4 | 20 | 8 | 35 |
| C | 3 | 15 | 6 | 20 |
Compute (i) Laspeyre’s (ii) Paasche’s (iii) Fisher’s Index numbers for the 2010 from the following data.
| Commodity | Price | Quantity | ||
| 2000 | 2010 | 2000 | 2010 | |
| A | 12 | 14 | 18 | 16 |
| B | 15 | 16 | 20 | 15 |
| C | 14 | 15 | 24 | 20 |
| D | 12 | 12 | 29 | 23 |
Using the following data, construct Fisher’s Ideal index and show how it satisfies Factor Reversal Test and Time Reversal Test?
| Commodity | Price in Rupees per unit | Number of units | ||
| Basic year | Current year | Base year | Current year | |
| A | 6 | 10 | 50 | 56 |
| B | 2 | 2 | 100 | 120 |
| C | 4 | 6 | 60 | 60 |
| D | 10 | 12 | 50 | 24 |
| E | 8 | 12 | 40 | 36 |
The following are the group index numbers and the group weights of an average working class family’s budget. Construct the cost of living index number:
| Groups | Food | Fuel and Lighting |
Clothing | Rent | Miscellaneous |
| Index Number | 2450 | 1240 | 3250 | 3750 | 4190 |
| Weight | 48 | 20 | 12 | 15 | 10 |
Construct the cost of living Index number for 2015 on the basis of 2012 from the following data using family budget method.
| Commodity | Price | Weights | |
| 2012 | 2015 | ||
| Rice | 250 | 280 | 10 |
| Wheat | 70 | 85 | 5 |
| Corn | 150 | 170 | 6 |
| Oil | 25 | 35 | 4 |
| Dhal | 85 | 90 | 3 |
Choose the correct alternative:
Another name of consumer’s price index number is:
Choose the correct alternative:
Laspeyre’s index = 110, Paasche’s index = 108, then Fisher’s Ideal index is equal to:
Choose the correct alternative:
Cost of living at two different cities can be compared with the help of
Choose the correct alternative:
Most commonly used index number is:
Choose the correct alternative:
Which of the following Index number satisfy the time reversal test?
Calculate the Laspeyre’s, Paasche’s and Fisher’s price index number for the following data. Interpret on the data.
| Commodities | Base Year | Current Year | ||
| Price | Quantity | Price | Quantity | |
| A | 170 | 562 | 72 | 632 |
| B | 192 | 535 | 70 | 756 |
| C | 195 | 639 | 95 | 926 |
| D | 1987 | 128 | 92 | 255 |
| E | 1985 | 542 | 92 | 632 |
| F | 150 | 217 | 180 | 314 |
| 7 | 12.6 | 12.7 | 12.5 | 12.8 |
| 8 | 12.4 | 12.3 | 12.6 | 12.5 |
| 9 | 12.6 | 12.5 | 12.3 | 12.6 |
| 10 | 12.1 | 12.7 | 12.5 | 12.8 |
Using the following data, construct Fisher’s Ideal Index Number and Show that it satisfies Factor Reversal Test and Time Reversal Test?
| Commodities | Price | Quantity | ||
| Base Year | Current Year | Base Year | Current Year | |
| Wheat | 6 | 10 | 50 | 56 |
| Ghee | 2 | 2 | 100 | 120 |
| Firewood | 4 | 6 | 60 | 60 |
| Sugar | 10 | 12 | 30 | 24 |
| Cloth | 8 | 12 | 40 | 36 |
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.
Explain the meaning of index number.
State with reasons whether you agree or disagree with the following statement:
Index number measures changes in the price level only.
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` |
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) xx 100` |
| 3) | Quantity Index | c) | `(sump_1q_1)/(sump_0q_1) xx100` |
| 4) | Paasche's Index | d) | `(sump_1)/(sump_0) xx 100` |
The base year's index of a selected variable is assumed as ______.
Find the odd word out:
Features of Index Number:
Complete the correlation:
P0 : ______ : : P1 : Current year price.
