An index number is used:

Related MCQs

• The index number for the price of a good in 2002 was 142 and in 2003, it was 148.5, on a base year of 1994. What is the percent increase in price of gasoline from 2002 to 2003
• A simple aggregate quantity index is used to:
• A simple aggregate price index:
• This index measures the change from month to month in the cost of a representative ‘basket’ of goods and services of the type bought by a typical household
• The Laspeyres and Paasche index are examples of:
• The Laspeyres price index:
• The distinctive feature of the ______ index is that it uses a group of commodities purchased in the base period as the basis for comparison
• Paasche index was developed by ______economist Hermann Paasche for measuring current price or quantity levels relative to those of a selected base period
• P10 is the index for time
• Fisher's Ideal Formula for calculating index nos. satisfies the________ tests