This index measure the change from month to month in the cost of a representative ‘basket’ of goods and services of the type bought by a typical household?

Related Mcqs:

The ratio of a new price to the base year price is called the___________?

A. Price decrease B. Price absolute C. Price increase D. Price relative...

A simple aggregate price index_____________?

A. Ignores relative quantities B. Compares relative quantities to relative prices C. Compares absolute prices to absolute quantities D. Compares relative quantities...

The Laspeyres and Paasche index are examples of_________________?

A. Aggregate index numbers B. Weighted index numbers C. Weighted price index only D. Weighted quantity index only...

Base year quantities are used as weights in _______________?

A. Laspeyre’s index B. Paasche’s index C. Fisher’s index D. None of these...

An index number is used______________?

A. To measure changes in quantity B. To measure changes in price C. To measure changes in a variable over time D. To measure changes in demand...