Cost of Living Index (CLI) is conceptually synonymous with: MCQ with Answer and Explanation

Question

Share Report Error

Cost of Living Index (CLI) is conceptually synonymous with:

A. Consumer Price Index

B. Index of Industrial Production

C. Human Development Index

D. Wholesale Price Index

Answer: Option A

Solution (By JKSSB Mock Tests)

CLI measures the changes in the cost of maintaining a certain standard of living, identical in purpose to the Consumer Price Index.

This question belongs to: Accountancy and Statistics Statistics

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Statistics Questions

Question #1

The harmonic mean is most appropriate for averaging:

A. Income

B. Growth rates

C. Ratings

D. Speeds when the distance is constant

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option D

Explanation:
Harmonic mean is used for rates where the numerator is constant, such as average speed for fixed distances.

This question belongs to: Accountancy and Statistics Statistics

Question #2

Direct standardization is preferred over indirect when:

A. Only total deaths are known

B. Age-specific rates for the study population are reliable and available

C. Age-specific rates for the study population are unstable due to small numbers

D. Comparing more than two populations

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option B

Explanation:
Direct standardization requires stable age-specific rates for the study group; if these are unreliable (e.g., small areas), indirect standardization (using standard rates) is more appropriate.

This question belongs to: Accountancy and Statistics Statistics

Question #3

Consider the following pairs: (1) CBR - Per 1000 population, (2) GFR - Per 1000 women aged 15-49, (3) IMR - Per 1000 live births. Which pair is correctly matched?

A. 1, 2 and 3

B. 1 and 2 only

C. 1 and 3 only

D. 2 and 3 only

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option A

Explanation:
All three definitions are correct.

This question belongs to: Accountancy and Statistics Statistics

Explore All Statistics MCQs