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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define an index number.
💡 Hint: Think about what it measures over time.
Question 2
Easy
What does the base period indicate in index numbers?
💡 Hint: Recall the starting point of comparison.
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 is the primary function of index numbers?
- To measure average changes
- To calculate exact prices
- To serve as a catalog
💡 Hint: Consider what index numbers summarize.
Question 2
True or False: Index numbers are only applicable to prices.
- True
- False
💡 Hint: Reflect on the broader applications of statistics.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Suppose the CPI in 2020 was 250 and in 2021 it is 300. Calculate the percentage increase in CPI.
💡 Hint: Use the percentage change formula.
Question 2
A consumer's basket in the base year included items worth Rs. 500. If their current basket costs Rs. 650, what is the index number?
💡 Hint: Think of how index numbers reflect relative costs.
Challenge and get performance evaluation