CPI measures changes in the prices of goods and services purchased by: MCQ with Answer and Explanation

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CPI measures changes in the prices of goods and services purchased by:

A. Exporters

B. Wholesalers

C. Manufacturers

D. Consumers

Answer: Option D

Solution (By JKExamLibrary)

CPI reflects the retail prices paid by households.

This question belongs to: Accountancy and Statistics Statistics

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The formula for weighted arithmetic mean is:

A. Σx / Σw

B. Σwx / Σw

C. Σwx / n

D. Σw / Σx

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Correct Answer: Option B

Explanation:
Weighted mean = Σ(w_i x_i) / Σ w_i.

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

NRR = 0.8 means:

A. High growth

B. Each generation is not replacing itself

C. Population is stable

D. Population is doubling

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Correct Answer: Option B

Explanation:
NRR < 1 indicates population decline in the long run.

This question belongs to: Accountancy and Statistics Statistics

Question #3 Report Error

Which is a difference between primary and secondary data?

A. Secondary data is more reliable always

B. Primary data requires less time

C. Primary data is cheaper than secondary data

D. Primary data is collected for the specific purpose at hand

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Correct Answer: Option D

Explanation:
Primary data is gathered specifically for the study, while secondary data was collected for some other purpose.

This question belongs to: Accountancy and Statistics Statistics

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