7.6.1 - Where can we get these index numbers?
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Practice Questions
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What does the Consumer Price Index measure?
💡 Hint: Think about what consumers typically buy.
Where can we find data for index numbers?
💡 Hint: Consider where official economic data is published.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What does the index number primarily help in assessing?
💡 Hint: Focus on what indexes track.
True or False: The WPI only considers consumer goods.
💡 Hint: No hint provided
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Challenge Problems
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Using hypothetical data, construct a simple CPI from a set number of goods collected over a year, explaining your methodology.
💡 Hint: Recall how to select your base year and apply it correctly.
Devise a presentation to explain how inaccurate index numbers could harm economic policy, using examples.
💡 Hint: Think of historical examples of economic policy failures.
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