4.2.1.3 Uses of index numbers NOTES
Authored by James Hannaford
Social Studies
Professional Development
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11 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What value is typically set for the base year in index numbers?
1
0
10
100
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If an index number in a certain year is 90, what does it indicate?
90% increase from the base year
10% decrease from the base year
10% increase from the base year
No change from the base year
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do you calculate the percentage change using index numbers between two periods?
(Index Number in Later Year - Index Number in Earlier Year) / Index Number in Earlier Year * 100
(Index Number in Earlier Year - Index Number in Later Year) / Index Number in Later Year * 100
Sum of Index Numbers / Number of Years
Average of Index Numbers over the periods
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does an index number of 110 suggest?
No change from the base year
10% increase from the base year
110% increase from the base year
10% decrease from the base year
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the percentage change from 2015 to 2020 if the index numbers are 108 and 115 respectively?
6%
6.48%
7%
5.5%
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a consumer price index (CPI) of 120 in 2020 indicate if 2010 is the base year?
No change in price level
Price level has decreased by 20%
Price level has increased by 20%
Price level has increased by 120%
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of using weights in an index number calculation?
To reflect the relative importance of different items
To increase the value of the index
To balance the index number
To simplify the calculation
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