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PolarNik [594]
3 years ago
7

(50 pts) Which of the following statements concerning price indexes is not accurate?

Business
2 answers:
Lilit [14]3 years ago
6 0

Answer:

Price indexes define the cost of goods in the entire economy at a given point in time.

Explanation:

Price indexes actually measure relative price changes, consisting of a series of numbers arranged so that a comparison between the two values for any two periods or places will show the average change in prices between periods or the average difference in prices between places.

Mademuasel [1]3 years ago
4 0

<em>Price indexes define the cost of goods in the entire economy at a given point in time.</em>

<em />

A price index is a scale used to measure changes in the levels of prices. This is a percentage scale that can be either based on prices of a single good or an entire market basket. This is only a small-scale index, not representative of an entire economy.

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