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Question Practice

How is the Consumer Price Index (CPI) typically constructed?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 11
Economics
Statistics for Economics
Index Numbers
Question Bank

How is the Consumer Price Inde...

Single Answer MCQ
Q-00104162

How is the Consumer Price Index (CPI) typically constructed?

1

By averaging the prices of all goods in the economy

2

By choosing non-representative goods

3

By selecting a fixed basket of goods and averaging their prices

4

By including only luxury items

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Q1.

What does an index number measure?

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Q2.

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Q3.

What is meant by a weighted index number?

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Q4.

Which of the following is a limitation of simple index numbers?

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