NCERT Class 11 Statistics Index Numbers

EXERCISES

1. An index number which accounts for the relative importance of the items is known as

(i) weighted index

(ii) simple aggregative index

(iii) simple average of relatives

2. In most of the weighted index numbers the weight pertains to

(i) base year

(ii) current year

(iii) both base and current year

3. The impact of change in the price of a commodity with little weight in the index will be

(i) small

(ii) large

(iii) uncertain

4. A consumer price index measures changes in

(i) retail prices

(ii) wholesale prices

(iii) producers prices

5. The item having the highest weight in consumer price index for industrial workers is

(i) Food

(ii) Housing

(iii) Clothing

6. In general, inflation is calculated by using

(i) wholesale price index

(ii) consumer price index

(iii) producers’ price index

7. Why do we need an index number?

8. What are the desirable properties of the base period?

9. Why is it essential to have different CPI for different categories of consumers?

10. What does a consumer price index for industrial workers measure?

11. What is the difference between a price index and a quantity index?

12. Is the change in any price reflected in a price index number?

13. Can the CPI number for urban non-manual employees represent the changes in the cost of living of the President of India?

14. Try to list the important items of consumption in your family.

15. If the salary of a person in the base year is Rs 4,000 per annum and the current year salary is Rs 6,000, by how much should his salary rise to maintain the same standard of living if the CPI is 400?

16. The consumer price index for June, 2005 was 125. The food index was 120 and that of other items 135. What is the percentage of the total weight given to food?

17. An enquiry into the budgets of the middle class families in a certain city gave the following information;

Please refer to attached file for NCERT Class 11 Statistics Index Numbers