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Question
Choose the correct alternative:
While computing a weighted index, the current period quantities are used in the:
Options
Laspeyre’s method
Paasche’s method
Marshall Edgeworth method
Fisher’s ideal method
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Solution
Paasche’s method
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RELATED QUESTIONS
Explain the features of index numbers.
Device that measures changes in an economic variable or a group of variables over a period of time –
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Index number which is computed from a single variable called is a ______.
Assertion (A): Index numbers are statistical devices.
Reasoning (R): Index numbers measure only changes in the price level over a period of time.
Explain factor reversal test
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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 |
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Features of Index Number:
