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CA Foundation Exam > CA Foundation Tests > Test: Index Numbers- 2 - CA Foundation MCQ

Test: Index Numbers- 2 - CA Foundation MCQ

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30 Questions MCQ Test - Test: Index Numbers- 2

Test: Index Numbers- 2 for CA Foundation 2024 is part of CA Foundation preparation. The Test: Index Numbers- 2 questions and answers have been prepared according to the CA Foundation exam syllabus.The Test: Index Numbers- 2 MCQs are made for CA Foundation 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Index Numbers- 2 below.

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Test: Index Numbers- 2 - Question 1

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A.
True
B.
false
C.
both
D.
none

Test: Index Numbers- 2 - Question 2

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The no. of test of Adequacy is

A.
2
B.
5
C.
3
D.
4

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Test: Index Numbers- 2 - Question 3

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Simple aggregate of quantities is a type of

A.
Quantity control
B.
Quantity indices
C.
both
D.
none

Test: Index Numbers- 2 - Question 4

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We use price index numbers

A.
To measure and compare prices
B.
to measure prices
C.
to compare prices
D.
none

Test: Index Numbers- 2 - Question 5

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When the ratio of a sum of prices in the current period to the sum of prices in the base period is expressed in the form of a percentage, it is known as :

A.
Simple price index number
B.
Simple aggregate price index number
C.
Quantity index number
D.
The weighted aggregative price index

Detailed Solution for Test: Index Numbers- 2 - Question 5

Correct option is B. Simple aggregate price index number

Test: Index Numbers- 2 - Question 6

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Each of the following statements is either True or False. Write your choice of the answer by writing F for false.

A.
Geometric mean is the most appropriate average to be used for constructing an index number.
B.
Weighted average of relatives and weighted aggregative methods render the same result.
C.
“Fisher’s Ideal Index Number is a compromise between two well known indices – not a right compromise, economically speaking”.
D.
“Like all statistical tools, index numbers must be used with great caution”.

Test: Index Numbers- 2 - Question 7

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The best average for constructing an index numbers is

A.
Arithmetic Mean
B.
Harmonic Mean
C.
Geometric Mean
D.
None of these

Test: Index Numbers- 2 - Question 8

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The time reversal test is satisfied by

A.
Fisher’s index number.
B.
Paasche’s index number.
C.
Laspeyre’s index number.
D.
None of these.

Test: Index Numbers- 2 - Question 9

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The factor reversal test is satisfied by

A.
Simple aggregative index number.
B.
Paasche’s index number.
C.
Laspeyre’s index number.
D.
None of these.

Test: Index Numbers- 2 - Question 10

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The circular test is satisfied by

A.
Fisher’s index number.
B.
Paasche’s index number.
C.
Laspeyre’s index number.
D.
None of these.

Test: Index Numbers- 2 - Question 11

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Fisher’s index number is based on

A.
The Arithmetic mean of Laspeyre’s and Paasche’s index numbers.
B.
The Median of Laspeyre’s and Paasche’s index numbers.
C.
The Mode of Laspeyre’s and Paasche’s index numbers.
D.
None of these.

Test: Index Numbers- 2 - Question 12

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Paasche index is based on

A.
Base year quantities.
B.
Current year quantities.
C.
Average of current and base year.
D.
None of these.

Test: Index Numbers- 2 - Question 13

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Fisher’s ideal index number is

A.
The Median of Laspeyre’s and Paasche’s index number
B.
The Arithmetic Mean of Laspeyre’s and Paasche’s.
C.
The Geometric Mean of Laspeyre’s and Paasche’s
D.
None of these.

Test: Index Numbers- 2 - Question 14

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Price-relative is expressed in term of

Test: Index Numbers- 2 - Question 15

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Paasehe’s index number is expressed in terms of :

Test: Index Numbers- 2 - Question 16

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Time reversal Test is satisfied by following index number formula is

A.
Laspeyre’s Index number.
B.
Simple Arithmetic Mean of price relative formula
C.
Marshall-Edge worth formula.
D.
None of these.

Test: Index Numbers- 2 - Question 17

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Cost of living Index number (C. L. I.) is expressed in terms of :

A.
B.
C.
D.
None of these

Test: Index Numbers- 2 - Question 18

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If the ratio between Laspeyre’s index number Paasche’s Index number is 28 : 27. Then the Missing figure in the following table P is :

A.
7
B.
4
C.
3
D.
9

Test: Index Numbers- 2 - Question 19

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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 is now

A.
125
B.
150
C.
225
D.
None of these

Detailed Solution for Test: Index Numbers- 2 - Question 19

According to the question, Given : P₁ = P₀ + 1.25 P₀
P₁ = 2.25 P₀
In index numbers, we assume base price P₀ = 100
P₁ = 2.25 ( 100)
P₁ = 225
Price of that place = 225

Test: Index Numbers- 2 - Question 20

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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

A.
250%
B.
150%
C.
350%
D.
None of these.

Test: Index Numbers- 2 - Question 21

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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

A.
35
B.
135
C.
65
D.
None of these.

Test: Index Numbers- 2 - Question 22

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Link relative index number is expressed for period n is

A.
B.
C.
D.
None of these

Test: Index Numbers- 2 - Question 23

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Fisher’s Ideal Index number is expressed in terms of :

A.
B.
C.
D.
None of these

Test: Index Numbers- 2 - Question 24

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Factor Reversal Test According to Fisher is

A.
B.
C.
D.
None of these

Test: Index Numbers- 2 - Question 25

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Marshall Edge worth Index formula after interchange of p and q is impressed in terms of :

A.
∑p₁(q_o+q1)/∑p₀(q_o+q₁)
B.
C.
D.
None of these

Detailed Solution for Test: Index Numbers- 2 - Question 25

∑p_o(p_o+p_n)/∑q_o(p_o+P_N)

Test: Index Numbers- 2 - Question 26

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If ∑ P_nq_n= 249, ∑ P_oq_o = 150, Paasche’s Index Number = 150 and Drobiseh and Bowely’s Index number = 145. Then the Fisher’s Ideal Index Number is

A.
75
B.
60
C.
145.97
D.
None of these

Test: Index Numbers- 2 - Question 27

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Consumer Price index number for the year 1957 was 313 with 1940 as the base year 96 the Average Monthly wages in 1957 of the workers into factory be Rs. 160/- their real wages is

A.
Rs. 48.40
B.
Rs. 51.12
C.
Rs. 40.30
D.
None of these.

Test: Index Numbers- 2 - Question 28

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If ∑ P_oq_o= 3500, ∑ P_nq_o = 3850. Then the Cost of living Index (C.L.T.) for 1950 w.r. to base 1960 is

A.
110
B.
90
C.
100
D.
None of these.

Test: Index Numbers- 2 - Question 29

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From the following table by the method of relatives using Arithmetic mean the price Index number is

A.
140.35
B.
148.95
C.
140.75
D.
None of these.

Test: Index Numbers- 2 - Question 30

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Each of the following statements is either True or False with your choice of the answer by writing F for False.

A.
Base year quantities are taken as weights in Laspeyre’s price Index number.
B.
Fisher’s ideal index is equal to the Arithmetic mean of Laspeyre’s and Paasche’s index numbers.
C.
Laspeyre’s index number formula does not satisfy time reversal test.
D.
None of these.

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