Index Numbers are economic barometers’’—Explain Discuss the different steps that have to be taken in the construction of a price index number.

‘‘Index Numbers are economic barometers’’—Explain Discuss the different steps that have to be taken in the construction of a price index number.

What are index number? How do you choose the base year for constructing an index number series? Explain with example what you meant by a price index number and write down its uses.

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Index Numbers are economic barometers’’—Explain Discuss the different steps that have to be taken in the construction of a price index number.
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