A price index commonly has an expression base of 1000 because Select one: a. prices in the basket being measured must add up to $1000. b. that allows comparisons with other price indexes. c. that is the international standard. d. 1000 is a convenient number to use in calculations
A price index commonly has an expression base of 1000 because Select one: a. prices in the basket being measured must add up to $1000. b. that allows comparisons with other price indexes. c. that is the international standard. d. 1000 is a convenient number to use in calculations
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter5: Business And Economic Forecasting
Section: Chapter Questions
Problem 1.4CE
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A price index commonly has an expression base of 1000 because
Select one:
a.
prices in the basket being measured must add up to $1000.
b.
that allows comparisons with other price indexes.
c.
that is the international standard.
d.
1000 is a convenient number to use in calculations.
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