Chapter 2 - Economic Data Flashcards
1
Q
Base Period
A
Period (year or month) that all other values in a series are compared to.
2
Q
Index Number
A
Measure of change from a base of 100. Often shows average of a number of statistics.
3
Q
Nominal Values
A
Values unadjusted for effects of inflation (current prices).
4
Q
Real Values
A
Values adjusted for inflation (constant prices).
