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प्रश्न
Write note on Fisher’s price index number
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उत्तर
Fisher defined a weighted index number as the geometric mean of Laspeyre’s index number and Paasche’s Index number
`"P"_01^"F" = sqrt((sum"p"_1"q"_0 xx sum"p"_1"q"_1)/(sum"p"_0"q"_0 xx sum"p"_0"q"_1)) xx 100`
The Fisher-price index number is also known as the “ideal” price index number.
This requires more data than the other two index numbers and as a result, may often be impracticable.
But this is a good index number because it satisfies both the time-reversal test and factor reversal test.
i.e `"P"_01^"F" xx "P"_10^"F"` = 1
And
`"P"_01^"F" xx "Q"_01^"F" = (sum "p"_1"q"_1)/(sum"p"_0"q"_0)`
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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.
State with reason whether you agree or disagree with the following statement:
Index numbers measure changes in the price level only.
State the uses of Index Number
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Using Fisher’s Ideal Formula, compute price index number for 1999 with 1996 as base year, given the following:
| Year | Commodity: A | Commodity: B | Commodity: C | |||
| Price (Rs.) | Quantity (kg) | Price (Rs.) | Quantity (kg) | Price (Rs.) | Quantity (kg) | |
| 1996 | 5 | 10 | 8 | 6 | 6 | 3 |
| 1999 | 4 | 12 | 7 | 7 | 5 | 4 |
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Another name of consumer’s price index number is:
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Cost of living at two different cities can be compared with the help of
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Which of the following Index number satisfy the time reversal test?
Explain the meaning of index number.
The base year's index of a selected variable is assumed as ______.
