Cost of Living Index differs from general CPI by: MCQ with Answer and Explanation

Question Report Error
Cost of Living Index differs from general CPI by:
A. Including only food items
B. Excluding services
C. Tailoring the consumption basket to specific population groups (e.g., industrial workers)
D. Using wholesale prices
Answer: Option C
Solution (By JKExamLibrary)
Cost of Living Indices are specialized CPIs with baskets weighted according to the expenditure patterns of particular demographic groups, providing more relevant inflation measures for targeted policy adjustments.
This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1 Report Error
The 'life expectancy at birth' in India as per recent SRS is about:
A. 65 years
B. 72 years
C. 69 years
D. 60 years
Discuss

Correct Answer: Option C

Explanation:
Life expectancy at birth is around 69 years (2014-18).
This question belongs to: Accountancy and Statistics Statistics
Question #2 Report Error
The difference between a histogram and a bar chart is:
A. Histogram is for continuous data, bar chart for discrete/categorical
B. No difference
C. Histogram uses frequency, bar chart uses cumulative frequency
D. Bar chart uses bars, histogram uses lines
Discuss

Correct Answer: Option A

Explanation:
Histogram represents frequency distribution of continuous variables, while bar chart is for categorical data with gaps between bars.
This question belongs to: Accountancy and Statistics Statistics
Question #3 Report Error
The measure that divides the data into 100 equal parts is:
A. Percentile
B. Median
C. Quartile
D. Decile
Discuss

Correct Answer: Option A

Explanation:
Percentiles partition data into 100 parts.
This question belongs to: Accountancy and Statistics Statistics
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