chapter 2 Flashcards
1
Q
base period
A
the period, such as a year or a month, with which all other values in a series are compared
2
Q
index numbers
A
an indicator showing the relative value of one number to another from a base of 100. It is often used to present an average of a number of statistics.
3
Q
nominal values
A
values unadjusted for the effects of inflation
4
Q
real values
A
values adjusted for inflation
