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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Calculate the index number if the current period price is $200 and the base period price is $150.
💡 Hint: Use the formula: (current price/base price) x 100.
Question 2
Easy
What does it mean if the index number calculated is 110?
💡 Hint: Consider the base period being 100.
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 the Simple Aggregate Method calculate?
- Price changes
- Quantity changes
- Both A and B
💡 Hint: Think about what index numbers can track.
Question 2
True or False: The base period is typically represented by an index number of 100.
- True
- False
💡 Hint: Consider how comparisons are often framed.
Solve 2 more questions and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
If the price of a basket of groceries was $50 last year and is $70 this year, calculate the index number and interpret its significance.
💡 Hint: Look at how the change reflects on consumer expenses.
Question 2
Using the Simple Aggregate Method, explain why it might mislead analysts if applied to compare the inflation rates of two different regions with varying economic sectors.
💡 Hint: Consider the diversity in data that requires a more nuanced approach.
Challenge and get performance evaluation