Index Numbers
0.0(0)
Studied by 0 people
Call Kai
Learn
Practice Test
Spaced Repetition
Match
Flashcards
Knowt PlayCard Sorting
1/3
There's no tags or description
Looks like no tags are added yet.
Last updated 7:35 PM on 5/9/25
Name | Mastery | Learn | Test | Matching | Spaced | Call with Kai |
|---|
No analytics yet
Send a link to your students to track their progress
4 Terms
1
New cards
What are index number used for
Index allow economists to clearly see changes and differences in data sets over a time period
2
New cards
How is an index number created
Divide the value of the year you are interested in by the value of the base year then multiply that number by 100
3
New cards
How can you create a weighted index
Convert each year into index numbers for the present year
Multiply by the weight of that year to give the weighted index
Add all products together
Divide by the sum of every weight
4
New cards
Problems with nominal gdp
Not inflation adjusted
Not population adjusted
Note 
Flashcards (106)