Index Number part of Macroeconomics Indicators Measurement-6

​Index Numbers in Macroeconomics Indicators

Index Numbers

International Economic-AS Level Chapter 6.2

Formulas

International Economic-AS Level Chapter 6.2

​1

​2

​3

Multiple Choice

Calculate the percentage increase in the average price of imports between 2016 and 2017

• 5.43%

• 6.53%

• 12.37%

• 13.04%

Multiple Choice

Calculate the real value of imports in 2019 in 2018 prices

• $772

• $839

• $842

• $915

Multiple Choice

Between 2015 and 2020, consumer spending in an economy increased from $240 billion to $380 billion. If the base year for the index of consumer spending is 2015, what is the index of consumer spending in 2020

• 124.4

• 137.8

• 158.3

• 163.2