An index number is used______________?
Correct answer: C. To measure changes in a variable over time
- A. To measure changes in quantity
- B. To measure changes in price
- C. To measure changes in a variable over time
- D. To measure changes in demand
Explanation
An index number expresses the relative change in a variable, or group of variables, over time using a reference period. Prices and quantities are common examples, but the broader definition is option c.
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