Question

The year with respect to which comparison are made​

Answer 1

Answer:

Index numbers are tools for measuring changes in the magnitude of a variable (such as price) or a group of related variables overtime with respect to a chosen base year. They are the series of variables that show the relative position of a variable. The most common use of index numbers in economics is in the calculation of the retail price index and wholesale price index which help measure the rate of inflation in the economy, relative to the base year.