Q17
Which statistical measure helps in measuring the purchasing power of money?
A.
Arithmetic average
B.
Index numbers
AnswerC.
Harmonic mean
D.
Time series
Answer: Option B
Solution
Answer: Option B
Solution:
Index numbers statistical measure helps in measuring the purchasing power of money. Index numbers possess much practical importance in measuring changes in the cost of living, production trends, trade, income variations, etc.