November 2006
Intermediate to advanced
744 pages
29h 18m
English
And in such indexes…, there is seen the baby figure of the gaint mass of things to come.
—William Shakespeare
After studying this chapter, you should be able to
explain the purpose of index numbers.
compute indexes to measure price changes and quantity changes over time.
revise the base period of a series of index numbers
explain and derive link relatives
discuss the limitations of index number construction
We know that most values change and therefore may want to know-how much change has taken place over a period of time. For example, we may want to know-how much the prices of different items essential to a household have increased or decreased so that necessary adjustments ...