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With regard to Laspeyre and Paasche price index numbers, it is maintained that If the Prices of all the goods change in the same ratio, the two indices will be equal for them the weighting system is irrelevant; or if the quantities of all the goods change in the same ratio, they will be equal, for them the two weighting systems are the same relatively. Then the above statements satisfy.
The price level of a country in a certain year has increased 25% over the base period. The index number is
If the ratio between Laspeyre index number and Paasche Index number is 28:27. Then the missing figure in the following table P is:
Time reversal Test is satisfied by following index number formula is
If the index number of prices at a place in 1994 is 250 with 1984 as base year, then the prices have increased on average by
If the prices of all commodities in a place have increased 1.25 times in comparison to the base period, the index number of prices of that place now is
If the prices of all commodities in a place have decreased 35% over the base period prices, then the index number of prices of that place is now
Theoretically, G.M. is the best average in the construction of index numbers. but in practise, mostly the A.M. is used
Laspeyre or Paasche or the Fisher ideal index do not satisfy
Each of the following statements is either True or False. Write your choice of the answer by writing F for false.
_______________is concerned with the measurement of price changes over a period of years, when it is desirable to shift the base
Each of the following statements is either True or False write your choice of the answer by writing T for True
The ratio of price of single commodity in a given period to its price in another period is called the
Option (a) base period is right answer.
Base period or reference period refers to the period of time used as the basis for an index number, for comparison with other periods
When the product of price index and the quantity index is equal to the corresponding value index then the test that holds is
The formula should be independent of the unit in which or for which price and quantities are quoted in
____________is a point of reference in comparing various data describing individual behaviour.
Fisher Ideal Formula for calculating index numbers satisfied the __________tests
The choice of suitable base period is at best temporary solution