Question 22 of 35
Q.Statements that highlight the significance of index numbers.
Index numbers are useful for making future predictions.
Index numbers help in the measurement of inflation.
Index numbers help to frame suitable policies.
Index numbers can be misused.
(a) b, c and d
(b) a, c and d
(c) a, b and d
(d) a, b and c
Maharashtra MsbshseMaharashtra HSC (MSBSHSE) Board 2024MCQ· 1mImportance★★★★★
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Start your 14-day free trial to unlock the full solution →Index numbers help in future predictions (a), measuring inflation (b) and framing suitable policies (c) — these highlight their significance. That they can be misused (d) is a drawback, not a use. Correct option: a, b and c.
Why: Index numbers are statistical devices that measure relative changes in a variable (like prices) over time. Their importance lies in that they:
- Reveal trends and help make forecasts for the future.
- Measure changes in the price level and hence the rate of inflation/deflation. …
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