Question 1

The average salary (indicator)  has increased by from $26,568 to $28,786 in the last 3 years. During the same time the value of silver has fallen by 53% (0.53) . Calculate the Real Value Index of silver (0 decimal places) .

Accepted Answer

A)   46
B)   47
C)   48
D)   49E) A) and D)
F) A) and B)

Question 2

Calculate the price of a loaf of bread at p8 when p0=$1.26 and I8/0=104 (0 decimal places) .

Accepted Answer

A)   $1.25
B)   $1.28
C)   $1.31
D)   $1.34E) None of the above
F) B) and C)

Question 3

The price of Indian steel has been reported using an index price with a base set in 1995. In 2008 the index was 235 and in 2012 it was 289. Recalculate the index price for 2012, using 2008 as a new base (0 decimal place) .

Accepted Answer

A)   117
B)   119
C)   121
D)   123E) A) and B)
F) A) and C)

Question 4

What term is used for index numbers used to compare changes in prices using a single price point as a starting point?

Accepted Answer

A)   Chain base relative
B)   Constant bas relative
C)   Floating base relative
D)   Fixed base relativeE) B) and C)
F) None of the above

Question 5

Which of the following options is the BEST definition of index numbers?

Accepted Answer

A)   Numbers used to help find data in a list
B)   Numbers used to express a percentage change in a variable over time
C)   Numbers used to express variation in values within a dataset
D)   Numbers used to link pieces of data to descriptions of their meaningE) C) and D)
F) All of the above

Question 6

The price of diesel was Bt28.80 (Thai Baht)  in January and Bt31.18 in August. Express this change as a price index (assuming January price = 100; 0 decimal places) .

Accepted Answer

A)   106
B)   107
C)   108
D)   109E) B) and C)
F) A) and B) C

Question 7

Calculate the price index when p0=$45.78 and p12=$43.92 (0 decimal places) .

Accepted Answer

A)   96
B)   100
C)   104
D)   108E) B) and C)
F) C) and D)

Question 8

Which of the following statements is TRUE if you wish to compare two sets of fixed base relatives with different bases?

Accepted Answer

A)   The bases of both sets should be altered to equal 100 for the most recent time period
B)   The base of one set should be altered so that figures use the same time period as a base
C)   The time series trend of both data sets should be used to make a comparison
D)   Such a comparison is not possible, new data should be collected using a common baseE) A) and D)
F) B) and C)

Question 9

The value of a large property in Spain has increased from €765,000 to €820,000 during the last year. At the same time, property prices in the region have increased 8.5% on average. Which of the following statements is TRUE?

Accepted Answer

A)   The relative value of the property has decreased
B)   The relative value of the property has increased
C)   The relative value of the property has stayed the same
D)   You cannot calculate the relative value of the propertyE) A) and B)
F) A) and C) A

Question 10

The average salary (indicator)  in Yeman was measured as YER (Yemeni Rial)  507,000 in 2011 and YER523,000 in 2013. At the same time, the cost of a small car has increased from YER3.65 million to YER3.92 million. Using the time series deflation method, calculate the Real Value Index of the small car (0 decimal places)

Accepted Answer

A)   100
B)   104
C)   108
D)   112E) B) and C)
F) A) and B) B

Exam 18: Index Relatives

The average salary (indicator) has increased by from $26,568 to $28,786 in the last 3 years. During the same time the value of silver has fallen by 53% (0.53) . Calculate the Real Value Index of silver (0 decimal places) .

Correct Answer
verified

Calculate the price of a loaf of bread at p₈when p₀=$1.26 and I_8/0=104 (0 decimal places) .

Correct Answer
verified

The price of Indian steel has been reported using an index price with a base set in 1995. In 2008 the index was 235 and in 2012 it was 289. Recalculate the index price for 2012, using 2008 as a new base (0 decimal place) .

Correct Answer
verified

What term is used for index numbers used to compare changes in prices using a single price point as a starting point?

Correct Answer
verified

Which of the following options is the BEST definition of index numbers?

Correct Answer
verified

The price of diesel was Bt28.80 (Thai Baht) in January and Bt31.18 in August. Express this change as a price index (assuming January price = 100; 0 decimal places) .

Correct Answer
verified
C

Calculate the price index when p₀=$45.78 and p₁₂=$43.92 (0 decimal places) .

Correct Answer
verified

Which of the following statements is TRUE if you wish to compare two sets of fixed base relatives with different bases?

Correct Answer
verified

The value of a large property in Spain has increased from €765,000 to €820,000 during the last year. At the same time, property prices in the region have increased 8.5% on average. Which of the following statements is TRUE?

Correct Answer
verified
A

Correct Answer
verified
B

Exam 18: Index Relatives

The average salary (indicator) has increased by from $26,568 to $28,786 in the last 3 years. During the same time the value of silver has fallen by 53% (0.53) . Calculate the Real Value Index of silver (0 decimal places) .

Correct AnswerverifiedShow Answer

Calculate the price of a loaf of bread at p8 when p0=$1.26 and I8/0=104 (0 decimal places) .

Correct AnswerverifiedShow Answer

The price of Indian steel has been reported using an index price with a base set in 1995. In 2008 the index was 235 and in 2012 it was 289. Recalculate the index price for 2012, using 2008 as a new base (0 decimal place) .

Correct AnswerverifiedShow Answer

What term is used for index numbers used to compare changes in prices using a single price point as a starting point?

Correct AnswerverifiedShow Answer

Which of the following options is the BEST definition of index numbers?

Correct AnswerverifiedShow Answer

The price of diesel was Bt28.80 (Thai Baht) in January and Bt31.18 in August. Express this change as a price index (assuming January price = 100; 0 decimal places) .

Correct AnswerverifiedC

Calculate the price index when p0=$45.78 and p12=$43.92 (0 decimal places) .

Correct AnswerverifiedShow Answer

Which of the following statements is TRUE if you wish to compare two sets of fixed base relatives with different bases?

Correct AnswerverifiedShow Answer

The value of a large property in Spain has increased from €765,000 to €820,000 during the last year. At the same time, property prices in the region have increased 8.5% on average. Which of the following statements is TRUE?

Correct AnswerverifiedA

Correct AnswerverifiedB

Correct Answer
verified

Calculate the price of a loaf of bread at p₈when p₀=$1.26 and I_8/0=104 (0 decimal places) .

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
C

Calculate the price index when p₀=$45.78 and p₁₂=$43.92 (0 decimal places) .

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A

Correct Answer
verified
B