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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is the basic purpose of an index number?
💡 Hint: Think about how you compare prices at different times.
Question 2
Easy
Can you name a type of index number?
💡 Hint: Consider indices related to consumer prices.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What does an index number typically measure?
- Change in quantity
- Change in quality
- Change in price
💡 Hint: Think about how we compare prices.
Question 2
True or False: A weighted index gives equal importance to all items within it.
- True
- False
💡 Hint: Consider how you spend your income.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
If the CPI increases from 300 to 450, by what percentage has the cost of living changed?
💡 Hint: Use the percentage change formula.
Question 2
Analyze the impact of rising petrol prices on the Laspeyres index, assuming petrol has a 5% weight.
💡 Hint: Consider how this affects consumer expenditure over time.
Challenge and get performance evaluation