Cost of Living Index differs from general CPI by: MCQ with Answer and Explanation

Question
Cost of Living Index differs from general CPI by:
A. Excluding services
B. Tailoring the consumption basket to specific population groups (e.g., industrial workers)
C. Using wholesale prices
D. Including only food items
Answer: Option B
Solution (By JKSSB Mock Tests)
Cost of Living Indices are specialized CPIs with baskets weighted according to the expenditure patterns of particular demographic groups, providing more relevant inflation measures for targeted policy adjustments.
This question belongs to: Accountancy and Statistics Statistics
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Practice More Statistics Questions

Question #1
In a questionnaire, a 'filter' question is used to:
A. Close the questionnaire
B. Pilot test the questionnaire
C. Skip respondents who do not meet certain criteria
D. Ask the most important question
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Correct Answer: Option C

Explanation:
Filter questions route respondents to different sections based on their answers.
This question belongs to: Accountancy and Statistics Statistics
Question #2
In a pie chart, the angle of a sector for a category with frequency 30 out of total 120 is:
A. 30°
B. 60°
C. 90°
D. 120°
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Correct Answer: Option C

Explanation:
Angle = (30/120) × 360 = 90°.
This question belongs to: Accountancy and Statistics Statistics
Question #3
Vital statistics from civil registration are superior to survey estimates for:
A. Timely monitoring of recent changes
B. All of the above
C. Long-term trend analysis
D. Small area estimation
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Correct Answer: Option B

Explanation:
Well-functioning civil registration provides continuous, complete, and timely data, enabling accurate trend analysis, real-time monitoring, and small-area estimates, unlike periodic surveys with sampling error and recall bias.
This question belongs to: Accountancy and Statistics Statistics
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