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Index Numbers

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Questions and Answers

Which year was the first index number constructed?

1500

1764 (correct)

1765

1750

What is the fundamental idea behind index numbers?

To assign a single number to several individuals

To quantify trends in statistics

To measure the effect of changes in the price (correct)

To compare different time periods

What are some common uses of index numbers?

Measuring changes in price (correct)

Measuring sustainability

Measuring human development

Measuring crime rates

What is the base time period in index numbers?

<p>One of the time periods involved</p> Signup and view all the answers

What does an index number assign to several individuals statistics?

<p>A single number</p> Signup and view all the answers

Index Numbers

Choose a study mode

Podcast

Questions and Answers

Which year was the first index number constructed?

What is the fundamental idea behind index numbers?

What are some common uses of index numbers?

What is the base time period in index numbers?

What does an index number assign to several individuals statistics?

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