We use price index numbers

Related MCQs

• In computing Index Numbers, ___________ is concerned with the measurement of price changes over a period of years, when it is desirable to shift the base
• 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
• The price relative is a price index that is determined by
• A monthly price index that uses the price changes in consumer goods and services for measuring the changes in consumer prices over time is known as the
• The rule of thumb for creating a frequency distribution is to divide the data into 5-15 classes. While larger numbers of classes allow for larger data sets, how do you know exactly how many classes to use
• A simple aggregate price index:
• The Laspeyres price index:
• Paasche index was developed by ______economist Hermann Paasche for measuring current price or quantity levels relative to those of a selected base period
• A composite price index based on the prices of a group of items is known as the
• A weighted aggregate price index where the weight for each item is its base period quantity is known as the