Laspeyres' method is generally preferred over Paasche’s method because Laspeyres' method involves collecting data for just one year which is the base year whereas Paasche’s requires collecting data for every year the index number is required.

True

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False

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Solution

The correct option is A
True

The given statement is true.

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Similar questions

State whether the following statements are True or False.

(i) There are many sources of data. (True/False)

(ii) Telephone survey is the most suitable method of collecting data, when the population is literate and spread over a large area. (True/False)

(iii) Data collected by investigator is called the secondary data. (True/False)

(iv) There is a certain bias involved in the non-random selection of samples. (True/False)

(v) Non-sampling errors can be minimised by taking large samples. (True/False)

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