Calculate Index numbers for the different years taking 1984 as the base year.
|
Year |
1984 |
1985 |
1986 |
1987 |
1988 |
1989 |
|
Price |
80 |
90 |
100 |
110 |
140 |
160 |
|
Year |
Price |
Price Relatives |
|
1984 |
80 |
 |
|
1985 |
90 |
 |
|
1986 |
100 |
 |
|
1987 |
110 |
 |
|
1988 |
140 |
 |
|
1989 |
160 |
 |
The impact of change in the price of a commodity with little weight in the index will be:
A consumer price index measures changes in:
The item having the highest weight in consumer price index for industrial workers is:
In general, inflation is calculated by using:
The item having the highest weight in consumer’s price index for industrial workers is:
consumer price index measures changes in:
The wholesale price index.
D.A. paid to the workers is based on:
Why do we need an index number?
Why is it essential to have different CPIs for different categories of consumers?
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