PRC-2 · Chapter 9 · Question 2 of 60
In the construction of an index number, the period against which all other periods are being compared is technically referred to as the:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Base period
Explanation
The base period (or base year) is the reference point in time. It is typically assigned an index value of 100, and subsequent current periods are calculated as a percentage relative to this base.
More Indices MCQs
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