D)
the interactions within the entire economy

Data are important in economics because __________ and __________

Time series data show information

Index numbers express base data in relation to some relative value

B)
FALSE
The retail price index is used to ______________
A)
construct price lists
B)
compare shop prices
C)
measure changes in the cost of living
D)
none of the above

A real value can be derived from a nominal value by

To find the percentage change in a number, divide the absolute change by the original number
and multiply by 100