10. Index numbers - An application The index of industrial production (IIP) is a measure of production across a broad range of industries. Suppose 1987 is the base p Year Index of Industrial Production 1987 100 1992 117 The base value is The IIP in 1992 implies that industrial production uppose you'd like to change the base year from 1987 to 1982, when the value of the IIP was 80. After changing the base year to 1982, the IIP in 1992 becomes by about %-
10. Index numbers - An application The index of industrial production (IIP) is a measure of production across a broad range of industries. Suppose 1987 is the base p Year Index of Industrial Production 1987 100 1992 117 The base value is The IIP in 1992 implies that industrial production uppose you'd like to change the base year from 1987 to 1982, when the value of the IIP was 80. After changing the base year to 1982, the IIP in 1992 becomes by about %-
Chapter1: Making Economics Decisions
Section: Chapter Questions
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