i. An index number is a percent that measures the change in price, quantity, value, or some other item of interest from one time to another.
Ii) An index of 239.2 and an index of 86.4 are actually percents.
Iii) All indexes have the same base, namely 1982-84, written 1982 - 84 = 100.
A) (i), (ii) and (iii) are all correct statements
B) (i) and (ii) are correct statements, but not (iii).
C) (i) and (iii) are correct statements but not (ii).
D) (ii) and (iii) are correct statements but not (i).
E) All statements are false

Question

Quizplus · Accepted Answer

An index number is indeed a percent that measures change, making (i) correct. Indexes like 239.2 and 86.4 are expressed as percents, so (ii) is correct. However, not all indexes use the same base year, so (iii) is incorrect.

I an Index Number Is a Percent That Measures the Change