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Question Practice

Why is it important to update the base year in index number construction?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 11
Economics
Statistics for Economics
Index Numbers
Question Bank

Why is it important to update ...

Single Answer MCQ
Q-00063107

Why is it important to update the base year in index number construction?

1

Base years provide historical data.

2

Old base years may not reflect current economic conditions.

3

They are easier to calculate with.

4

They are required by law.

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Q4.

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