The CPI is used for: MCQ with Answer and Explanation

Question

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The CPI is used for:

A. Calculating agricultural output

B. Measuring industrial growth

C. Determining dearness allowance and wage revision

D. Calculating national income

Answer: Option C

Solution (By JKSSB Mock Tests)

CPI measures changes in the cost of living and is used to adjust wages and allowances.

This question belongs to: Accountancy and Statistics Statistics

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Question #1

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The probability of an event A is 0.2. The odds in favor of A are:

A. 1:5

B. 4:1

C. 1:4

D. 5:1

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Correct Answer: Option C

Explanation:
Odds = P(A) : P(A') = 0.2 : 0.8 = 1:4.

This question belongs to: Accountancy and Statistics Statistics

Question #2

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The concept of 'population momentum' refers to:

A. Increase in life expectancy

B. Tendency of population to grow despite declining fertility due to large reproductive-age population

C. Net migration

D. Urbanization rate

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Correct Answer: Option B

Explanation:
Population momentum is the built-in growth potential resulting from a young age structure, even if fertility drops to replacement level.

This question belongs to: Accountancy and Statistics Statistics

Question #3

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Harmonic mean is undefined if:

A. All observations are positive

B. Data are discrete

C. Any observation is zero

D. Data are continuous

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Correct Answer: Option C

Explanation:
Reciprocals of zero are infinite, making HM undefined.

This question belongs to: Accountancy and Statistics Statistics

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