10. Index numbers - An applicationThe index of industrial production (IIP) is a measure of production across a broad range of industries. Suppose 1987 is the base period.Year Index of Industrial Production19871001992117The base value isThe IIP in 1992 implies that industrial productionSuppose 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 becomes10. Index numbers - An applicationThe index of industrial production (IIP) is a measure of production across a broad range of industries. Suppose 1987 is the base period.Year Index of Industrial Production19871001992117The base value isThe IIP in 1992 implies that industrial productionSuppose you'd like to change the base year from 1987 to 1982, when the value ofAfter changing the base year to 1982, the IIP in 1992 becomesincreaseddecreasedby aboutby about%-%.

Index industrial production refers to the index that measures how well the industries have performed…

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 %-

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

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 period.
Year Index of Industrial Production
1987
100
1992
117
The base value is
The IIP in 1992 implies that industrial production
Suppose 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
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 period.
Year Index of Industrial Production
1987
100
1992
117
The base value is
The IIP in 1992 implies that industrial production
Suppose you'd like to change the base year from 1987 to 1982, when the value of
After changing the base year to 1982, the IIP in 1992 becomes
increased
decreased
by about
by about
%-
%.

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