
Eco 6.2
Quiz
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Other
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12th Grade
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Practice Problem
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Medium
Kwity Vira
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8 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The Value Index Number calculates:
The total price of commodities.
price x quantity
The relative price changes of specific commodities.
The total quantity of commodities
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does Paasche’s Price Index Number consider as weights?
Base year quantity
Base year prices.
Current year quantity
Current year price
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
P₀₁ = (Σp₁q₁ / Σp₀q₁) × 100
Paasche's Price Index Formula:
Laspeyres' Price Index Formula:
Quantity Index Number Formula:
Value Index Number Formula:
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Value Index Number Formula:
(Σp₁q₁ / Σp₀q₁) × 100
(Σp₁q₁ / Σp₀q₀) × 100
(Σp₁ / Σp₀) × 100
none
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Laspeyres' Price Index Formula:
(Σp₁q₀ / Σp₀q₀) × 100
(Σp₁q₁ / Σp₀q₁) × 100
Both
None
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does Laaspeyre's Price Index Number consider as weights?
Current year price
Base year price
Current year quantity
Base year quantity
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why can arbitrary weights be a problem in index numbers?
Weights are always chosen logically and based on consumer preferences
Weights could be assigned without proper reasoning.
Weights are always chosen by the government.
Weights are fixed and don’t change over time.
8.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do defects in formulae affect index numbers?
They make index numbers always accurate.
They allow index numbers to adjust to every situation.
Hiding extremes or distorting the true picture.
They ignore external factors such as weather.
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