What does Index number means
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Step-by-step explanation:
The definition and meaning an index number is an economic data figure that reflects quantity or price compared with a base or standard value. The plural of index is indices. Inflation, for example is measured by an index of retail (consumer) prices.
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The base usually equals 100 and the index number is usually expressed as 100 times the ratio to the base value. For example, if a commodity costs twice as much in 1970 as it did in 1960, its index number would be 200 relative to 1960.
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