The year that is chosen as the point of reference for comparison of prices in other years is known as the
A) base year.
B) price index.
C) purchasing power.
D) consumer price index.

Question

Quizplus · Accepted Answer

The base year is the year that is chosen as the starting point for comparison of prices in other years. It is the year against which prices of all other years are compared.

The Year That Is Chosen as the Point of Reference