The base year of the Wholesale Price Index (WPI) 2011-12 series was revised in: MCQ with Answer and Explanation

Question Report Error

The base year of the Wholesale Price Index (WPI) 2011-12 series was revised in:

A. 2019

B. 2015

C. 2020

D. 2017

Answer: Option D

Solution (By JKExamLibrary)

The new WPI series with base 2011-12 was launched in 2017.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1 Report Error

Standardized death rate is used to:

A. Compare mortality between populations with different age structures

B. Estimate migration

C. Calculate birth rate

D. Measure infant mortality

View Answer & Solution Discuss

Correct Answer: Option A

Explanation:
Standardization removes the effect of age composition, enabling fair comparisons.

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

Fisher's ideal index for price is given by:

A. Σp₁q₀ / Σp₀q₀

B. √[(Σp₁q₀/Σp₀q₀) × (Σp₁q₁/Σp₀q₁)]

C. (Σp₁q₀/Σp₀q₀ + Σp₁q₁/Σp₀q₁)/2

D. Σp₁q₁ / Σp₀q₁

View Answer & Solution Discuss

Correct Answer: Option B

Explanation:
Fisher's ideal price index is the geometric mean of the Laspeyres price index (Σp₁q₀/Σp₀q₀) and the Paasche price index (Σp₁q₁/Σp₀q₁), ensuring it satisfies key consistency tests.

This question belongs to: Accountancy and Statistics Statistics

Question #3 Report Error

The Laspeyres quantity index uses:

A. Current period prices as weights

B. Base period quantities as weights

C. Current period quantities as weights

D. Base period prices as weights

View Answer & Solution Discuss

Correct Answer: Option D

Explanation:
Laspeyres quantity index = Σp₀q₁ / Σp₀q₀ × 100.

This question belongs to: Accountancy and Statistics Statistics

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