Refer to the above table. The base year of the price index given in the table is:
A) Year 1
B) Year 2
C) Year 3
D) Year 4

Name: Refer to the above table. The base year of the price index given in the table is: A) Year 1 B) Year 2 C) Year 3 D) Year 4
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Question

Refer to the above table. The base year of the price index given in the table is:
A) Year 1 
B) Year 2 
C) Year 3 
D) Year 4

Quizplus · Accepted Answer

The base year of a price index is the year used as a reference point for comparison with other years. In this table, the index value for Year 1 is set at 100, indicating that it is the base year.

Refer to the Above Table