Deck 20: Special Published Indices

Question 1

Which of the groups listed below showed the largest annual change in Japan, to June 2013?

A) Food
B) Goods
C) Services
D) Transportation and Communication

Answer 1

Transportation and Communication

Question 2

Which of the following measures allows comparison of the financial well-being of countries' inhabitants?

A) Producer Price Index
B) Purchasing Power of the Pound index
C) Consumer Price Index
D) Average Wage

Answer 2

Average Wage

Question 3

Which of the following groups has the lowest weighting in the UK CPI?

A) Food and non-alcoholic beverages
B) Transport
C) Restaurants and hotels
D) Health

Answer 3

Health

Question 4

The average price index for the UK in 2001 was 120 (base period, 1980) and in 2011 was 134. Calculate the value for the Purchasing Power of the Pound index in 2011 (0 decimal places).

A) 88
B) 91
C) 94
D) 97

Question 5

Which of the following statements concerning the Index of Production is NOT true?

A) In the UK, the index includes finance, communications and agriculture
B) It is a good measure of the business cycle
C) Many of the series presented are seasonally adjusted
D) Indices are classified using the Standard Industrial Classification (1992 version)

Question 6

If the Purchasing Power of the Pound index has a value of 75, which of the following statements IS true?

A) Items that cost 75p in the base period cost £1 today
B) Items that cost £1 in the base period cost 75p today
C) Prices today are 75% of those in the base period
D) Prices today are 75% higher than in the base period

Question 7

Which subgroup, part of the Indian CPI calculation, had the highest inflation in June 2013?

A) Food
B) Transportation
C) Housing costs
D) Electrical goods

Question 8

What is measured by a Consumer Price Index?

A) Price paid for raw materials by producers
B) Price paid for goods by consumers
C) Price paid for commodities on trading exchanges
D) Price paid to workers for their labour (wages)

Question 9

In Israel, approximately how many price quotations are gathered to calculate CPI?

A) 67,000
B) 70,000
C) 76,000
D) 81,000

Question 10

Which of the following options is NOT a set of the Producer Prices Index?

A) Stage of Processing
B) Output by type of commodity
C) Output by occupational grouping
D) Output by economic activity