Index Numbers - Class XI Economics Quiz

Class XI

Economics

Index Numbers

12 questions

MEDIUM

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1. What is the primary purpose of index numbers?

To measure economic growth · To compare price levels over time · To analyze population changes · To assess government policies

2. Which of the following is a type of index number?

Consumer Price Index · Gross Domestic Product · National Income · Balance of Payments

3. What does the base year represent in an index number?

The year with the highest prices · The year with the lowest prices · The reference point for comparison · The year of maximum production

4. Which formula is used to calculate the simple index number?

Current Year Value / Base Year Value × 100 · Base Year Value / Current Year Value × 100 · Current Year Value - Base Year Value · Base Year Value - Current Year Value

5. What is the Laspeyres index?

A price index using current quantities · A price index using base year quantities · An index measuring quantity changes · An index measuring income changes