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Question Practice

Which most accurately describes the formula for calculating the Consumer Price Index?

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

Which most accurately describe...

Single Answer MCQ
Q-00063043

Which most accurately describes the formula for calculating the Consumer Price Index?

1

CPI = (ΣWP × Pcurrent) / (ΣWP × Pbase) × 100

2

CPI = (ΣPcurrent / ΣPbase) × 100

3

CPI = (Total of current prices - Total of base prices) / Total of base prices

4

CPI = (ΣW × Pcurrent) / (ΣW × Pbase)

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Q1.

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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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