Price in proceeding year used in the method is called __________?
Correct answer: B. Chain Method
- A. Fixed Method
- B. Chain Method
- C. Aggregation Method
- D. Volume
Explanation
In the chain-base method, each period is compared with the immediately preceding period, so the preceding year’s price is used. A fixed-base method compares every period with one constant base year.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
Practise Index Numbers and Time Series
34 free Index Numbers and Time Series MCQs from Statistics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Statistics questions like this
Statistics is on this paper prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for it.
More Index Numbers and Time Series questions
Measure the change in quantity of goods are called ________________?
1. Nos. is a ____ for measuring changes in a variable or a group of related variables?
Index Number is an important role in the field of Economic and ________________?
Weighted Index number can be classified into _________ categories?
Ratio between given year and base year is called __________ in percentage?
An Index Number calculated for more than one items is called ___________?