Practice Where Can We Get These Index Numbers? (7.6.1)

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8 questions

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6 sample questions

Question 1.
What does the Consumer Price Index measure?
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Think about what consumers typically buy.
Question 2.
Where can we find data for index numbers?
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Consider where official economic data is published.
3Question 3.
What does the index number primarily help in assessing?
- Population growth
- Economic changes
- Educational achievements
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Focus on what indexes track.
4Question 4.
True or False: The WPI only considers consumer goods.
- True
- False
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No hint provided
Question 5.
Using hypothetical data, construct a simple CPI from a set number of goods collected over a year, explaining your methodology.
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Recall how to select your base year and apply it correctly.
Question 6.
Devise a presentation to explain how inaccurate index numbers could harm economic policy, using examples.
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Think of historical examples of economic policy failures.

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