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Question Practice

What does a Consumer Price Index (CPI) of 277 mean for an industrial worker compared to the base year?

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

What does a Consumer Price Ind...

Single Answer MCQ
Q-00063036

What does a Consumer Price Index (CPI) of 277 mean for an industrial worker compared to the base year?

1

Prices have decreased by 177%.

2

The cost of living has tripled.

3

Prices have increased by 177%.

4

Prices have increased by 2.77 times.

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Q1.

What does an index number measure?

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Q2.

Which formula represents a simple aggregative price index?

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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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