MICROECONOMICS CH : 5 THEORY OF DEMAND — Economics STD 11 Commerce — Question

What are the characteristics of an index number?

Calculate Simple Aggregative Price Index on the basis of the following data:

Commodity	Prices in 2018	Prices in 2019
Rice	120	180
Wheat	80	100
Oil	300	400
Pulses	130	180
Suger	150	200

The monthly expenditure (₹) of a family on some important items and the Goods and Services Tax (GST) rates applicable to these items is as follows:

Item	Monthly Expense (₹)	GST Rate %
Cereals	1500	0
Eggs	250	0
Fish, Meat	250	0
Medicines	50	5
Biogas	50	5
Transport	100	5
Butter	50	12
Babool	10	12
Tomato Ketchup	40	12
Biscuits	75	18
Cakes, Pastries	25	18
Branded Garments	100	18
Vacuum Cleaner, Car	1000	28

Calculate the average tax rate as far as this family is concerned.

What is a false base line? How is it different from a kinked line?

What is the relation of TP with MP in different stages of the operation of the law of variable proportions?

Calculate Spearman's Rank coefficient of correlation from following data:

X	66	90	89	55	58	44	42
Y	58	76	65	58	53	49	56

Calculate arithmetic mean of the following series:

Class Interval	5-15	15-25	25-35	35-45	45-55
Frequency	8	12	15	9	6

What are real class limits? How are they computed?

Following are the marks obtained by 100 students in Economics. Calculate the average marks by using assumed mean method (take 35 as assumed mean).

Marks	0-10	10-20	20-30	30-40	40-50	50-60
Number of students	5	10	25	30	20	10

Explain the central problem of 'choice of technique'.