Cost of Living Index numbers are also known as: MCQ with Answer and Explanation

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Cost of Living Index numbers are also known as:

A. Consumer price index

B. Sensex

C. Wholesale price index

D. Index of industrial production

Answer: Option A

Solution (By JKExamLibrary)

Cost of Living Index measures changes in retail prices of goods and services consumed by households, essentially the Consumer Price Index.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1 Report Error

In Fisher's ideal index, which mean is used to combine Laspeyres and Paasche indices?

A. Arithmetic mean

B. Median

C. Harmonic mean

D. Geometric mean

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Correct Answer: Option D

Explanation:
Fisher's ideal index is the geometric mean of the Laspeyres and Paasche indices.

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

In most human populations, the age group with the highest age-specific fertility rate is typically:

A. 40-44

B. 30-34

C. 20-24

D. 15-19

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Correct Answer: Option C

Explanation:
Fertility peaks in the 20-24 or 25-29 age range; commonly 20-24 is the highest in many populations.

This question belongs to: Accountancy and Statistics Statistics

Question #3 Report Error

Net Reproduction Rate (NRR) adjusts for:

A. Only fertility

B. Mortality of women up to reproductive age

C. Migration

D. Male mortality

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Correct Answer: Option B

Explanation:
NRR takes into account that some women may die before completing childbearing.

This question belongs to: Accountancy and Statistics Statistics

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