In a Laspeyres price index, the weights are: MCQ with Answer and Explanation

Question

Share Report Error

In a Laspeyres price index, the weights are:

A. Base period prices

B. Base period quantities

C. Current period prices

D. Current period quantities

Answer: Option B

Solution (By JKSSB Mock Tests)

Laspeyres index weights items by base period quantities, keeping the basket constant.

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

If P(A)=0.3, P(B)=0.5, and P(A∩B)=0.15, then A and B are:

A. Dependent

B. Both mutually exclusive and independent

C. Independent

D. Mutually exclusive

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option C

Explanation:
P(A)P(B) = 0.3×0.5 = 0.15 = P(A∩B), satisfying the condition for independence.

This question belongs to: Accountancy and Statistics Statistics

Question #2

The dependency ratio in India has been declining primarily due to:

A. Increasing mortality

B. Increasing old age population

C. Declining fertility

D. Emigration

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option C

Explanation:
Falling birth rates reduce the proportion of children (0-14), lowering the dependency ratio, at least in the short-medium term.

This question belongs to: Accountancy and Statistics Statistics

Question #3

The current base year of WPI (wholesale price index) in India is:

A. 2004-05

B. 2012

C. 2011-12

D. 2015-16

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option C

Explanation:
The revised WPI series uses 2011-12 as base.

This question belongs to: Accountancy and Statistics Statistics

Explore All Statistics MCQs