Consumer Price Index (CPI) is the preferred measure for adjusting: MCQ with Answer and Explanation

Question
Consumer Price Index (CPI) is the preferred measure for adjusting:
A. Social security payments and wages for inflation
B. Corporate tax rates
C. Interest rates on loans
D. Export duties
Answer: Option A
Solution (By JKSSB Mock Tests)
CPI directly measures changes in the cost of living for households, making it the standard index for indexation of pensions, wages, and welfare benefits to maintain real purchasing power.
This question belongs to: Accountancy and Statistics Statistics
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Practice More Statistics Questions

Question #1
The harmonic mean gives more weight to:
A. Middle values
B. Larger values
C. Smaller values
D. All values equally
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Correct Answer: Option C

Explanation:
HM is the reciprocal of the arithmetic mean of reciprocals, so smaller numbers have larger reciprocals and thus greater influence.
This question belongs to: Accountancy and Statistics Statistics
Question #2
The method of collecting primary data where the informant is contacted through telephone is called:
A. Mailed questionnaire
B. Direct personal interview
C. Indirect oral investigation
D. Telephonic interview
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Correct Answer: Option D

Explanation:
Telephonic interview involves asking questions over the phone.
This question belongs to: Accountancy and Statistics Statistics
Question #3
Life expectancy at birth is a summary measure of:
A. Mortality
B. Migration
C. Fertility
D. Nuptiality
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Correct Answer: Option A

Explanation:
Life expectancy is derived from age-specific mortality rates and reflects overall mortality conditions.
This question belongs to: Accountancy and Statistics Statistics
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