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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is the formula for calculating a price index number?
💡 Hint: Think about how to relate current prices to past prices.
Question 2
Easy
Define Consumer Price Index (CPI).
💡 Hint: Focus on consumer goods!
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 a price index number of 150 indicate?
- Prices have decreased by 50%
- Prices have increased by 50%
- Prices have doubled
💡 Hint: Remember the significance of base periods!
Question 2
Is the Consumer Price Index used to track producer prices? (True/False)
- True
- False
💡 Hint: Keep track of who the index is measuring!
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
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!
Question 2
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!
Challenge and get performance evaluation