A price index commonly has an expression base of 1000 because Select one: a. prices in the basket being measured must add up to $1000. b. that allows comparisons with other price indexes. c. that is the international standard. d. 1000 is a convenient number to use in calculations

A price index commonly has an expression base of 1000 because Select one: a. prices in the basket being measured must add up to $1000. b. that allows comparisons with other price indexes. c. that is the international standard. d. 1000 is a convenient number to use in calculations

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter5: Business And Economic Forecasting

Section: Chapter Questions

Problem 1.4CE

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Question

A price index commonly has an expression base of 1000 because

Select one:

prices in the basket being measured must add up to $1000.

that allows comparisons with other price indexes.

that is the international standard.

1000 is a convenient number to use in calculations.

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