Laspeyre's price index number is also ca

CUET Preparation Today

Start Free Mocks

Home Questions VZSVNNQ7BX

Target Exam

CUET

Subject

-- Applied Mathematics - Section B2

Chapter

Index Numbers and Time Based Data

Question:

Laspeyre's price index number is also called :

Options:

Current year weighted

Base year weighted

Simple aggregative index

Cost of living index

Correct Answer:

Base year weighted

Explanation:

The correct answer is Option (2) → Base year weighted

As it compare the current price with the base year prices while keeping the base year quantities fixed.