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Mathematical Economics-Online Practice Exam 4

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# Question

1.   Value index number is defined as-

# Question

2. Simple geometric mean of price relatives is given

# Question

3. Laspeyre’s price index number is given by-

# Question

4. Fisher’s ideal index number is given by

# Question

5. Paasche’s price index number is given by

# Question

6. Which of the following represents Bowley’s price index number?

# Question

7. Match list I with list II and select the correct answer-

 List I List II a. i. Fisher b. ii. Paasche c. iii. Kelly d. iv. Marshal and Edgeworth

# Answers

a.ii, b.iii, c.iv, d.ii

a.iv, b.i, c.ii, d.iii

a.iii, b.i, c.iv, d.iv

a.ii, b.i, c.iv, d.iii

# Question

8. Which of the following averages is considered, theoretically, the best average for the construction of index numbers ?

G.M

A.M

H.M

Median

# Question

9. Which of the following is NOT correct with regard to Fisher’s index number?

# Answers

It satisfies time reversal and factor reversal tests

It takes into account both current year as well as base year quantities

It is geometric mean between Laspeyre’s and Paasche’s index number

None of the above

# Question

10. Simple arithmatic mean of price relatives is given

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