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Questions and Answers
Which year was the first index number constructed?
Which year was the first index number constructed?
- 1500
- 1764 (correct)
- 1765
- 1750
What is the fundamental idea behind index numbers?
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?
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?
What is the base time period in index numbers?
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What does an index number assign to several individuals statistics?
What does an index number assign to several individuals statistics?
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