An index number that measures changes in the quantity of goods produced is: MCQ with Answer and Explanation

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An index number that measures changes in the quantity of goods produced is:

A. Quantity index

B. Price index

C. Cost index

D. Value index

Answer: Option A

Solution (By JKSSB Mock Tests)

Quantity index tracks changes in physical volume of production or consumption.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1

The median of the dataset: 10, 15, 20, 25, 30, 35 is:

A. 22.5

B. 30

C. 20

D. 25

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Correct Answer: Option A

Explanation:
With 6 observations (even), median = average of 3rd and 4th values in ordered list: (20 + 25)/2 = 22.5. This splits the data into two equal halves.

This question belongs to: Accountancy and Statistics Statistics

Question #2

The Sample Registration System (SRS) in India provides data on:

A. Population census

B. Agricultural production

C. Industrial output

D. Fertility and mortality indicators

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Correct Answer: Option D

Explanation:
SRS gives reliable annual estimates of birth rates, death rates, and infant mortality rates.

This question belongs to: Accountancy and Statistics Statistics

Question #3

The Consumer Price Index for Industrial Workers (CPI-IW) is compiled by:

A. Labour Bureau, Shimla

B. Central Statistics Office

C. NSSO

D. Reserve Bank of India

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Correct Answer: Option A

Explanation:
The Labour Bureau compiles CPI-IW, a key measure of retail inflation for industrial workers.

This question belongs to: Accountancy and Statistics Statistics

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