Standardized death rate is used to: MCQ with Answer and Explanation

Explanation:
Factor reversal test checks if the product of a price index and its corresponding quantity index equals the value index (Σp₁q₁/Σp₀q₀), ensuring consistency between price and quantity measurements.

Explanation:
As of recent revisions, India's WPI uses 2011-12 as the base year (index=100), updated periodically by the Office of Economic Advisor, Ministry of Commerce and Industry.

Explanation:
Fisher's ideal quantity index = √(Laspeyres quantity index × Paasche quantity index), mirroring the price index formulation to satisfy consistency tests for quantity measurement.