Index Numbers - Class XI Economics Quiz
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1. What is the primary purpose of index numbers?
Measure economic growth · Compare price levels · Calculate GDP · Assess unemployment rates
2. Which of the following is NOT a type of index number?
Price Index · Quantity Index · Value Index · Income Index
3. What does a base year represent in index numbers?
The year with the highest prices · The year with the lowest prices · The year used for comparison · The current year
4. Which index number is used to measure changes in the cost of living?
Wholesale Price Index · Consumer Price Index · Gross Domestic Product Index · Production Index
5. In the Laspeyres index, what is held constant?
Current prices · Base year quantities · Current quantities · Base year prices
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