Practice - Price Index Numbers
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Practice Questions
Test your understanding with targeted questions
What is the formula for calculating a price index number?
💡 Hint: Think about how to relate current prices to past prices.
Define Consumer Price Index (CPI).
💡 Hint: Focus on consumer goods!
4 more questions available
Interactive Quizzes
Quick quizzes to reinforce your learning
What does a price index number of 150 indicate?
💡 Hint: Remember the significance of base periods!
Is the Consumer Price Index used to track producer prices? (True/False)
💡 Hint: Keep track of who the index is measuring!
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Challenge Problems
Push your limits with advanced challenges
If the price index number in Year 1 is 105 and in Year 2 is 110, calculate the percentage increase in prices from Year 1 to Year 2.
💡 Hint: Consider the change relative to the original value!
You notice that the CPI has risen from 200 to 210 over the course of a year. What can you infer about inflation or deflation in that period?
💡 Hint: Remember how to interpret CPI changes!
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Reference links
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