Class 11 Commerce Index Numbers — practice questions
13 free MCQs with worked solutions. Tap any question for the answer + explanation, or practice them all in the app.
Practice Class 11 Commerce Index Numbers in the app →An index number is a statistical device used to measure changes in a variable or a group of variables over:The year that is taken as the standard of reference for constructing an index number is called the:The year for which the price changes are being measured relative to the base year is the:The value of the index number for the base year is always taken to be:An index number that measures the general change in the prices of a basket of goods is a:The index number that measures the change in the retail prices of goods consumed by a typical household is theThe Consumer Price Index is also commonly known as the:A general and sustained rise in the price level, often tracked using price index numbers, is called:If the price index for the current year is 125 (base year = 100), prices have on average risen by:The index number that measures changes in the prices of goods at the wholesale level is the:As the cost of living rises, the purchasing power of money tends to:Index numbers are often described as economic ___ because they signal the direction of economic change:The Index of Industrial Production (IIP) measures changes in the level of: