index number for base year is always considered as a) 100 b) 101 c) 201 d) 1000 ?
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Answer:-Is 100
The base period or base year refers to the year in which an index number series begins to be calculated. This will invariably have a starting value of 100.
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(a) 100 is the index number for the base year.
Explanation:
- Base year refers to the initial series of the years.
- Index number refers to an economical aspect of data, where the prices and quantities of products and services are compared to a standard to a base number.
- Therefore, a base year refers to that year where the index is taken to be hundred.
- It is used while computing inflation, growth rates, etc.
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