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Question Practice

Which of the following best describes a base year in index number construction?

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

Which of the following best de...

Single Answer MCQ
Q-00063106

Which of the following best describes a base year in index number construction?

1

It represents the year with the highest prices.

2

It is the year against which comparisons are made.

3

It is the most recent year of data collection.

4

It must never change.

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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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