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index number
(redirected from Base Value)

   Also found in: Dictionary/thesaurus, Financial, Wikipedia 0.01 sec.
index number, in econometrics, a figure reflecting a change in value or quantity as compared with a standard or base. The base usually equals 100 and the index number is usually expressed as a percentage. For example, if a commodity cost twice as much in 1970 as it did in 1960, its index number would be 200 relative to 1960. Index numbers are used especially to compare business activity, the cost of living, and employment; one of the most influential indexes in the United States is the Consumer Price Index (see under cost of living cost of living, amount of money needed to buy the goods and services necessary to maintain a specified standard of living. The cost of living is closely tied to rates of inflation and deflation.
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). Index numbers enable economists to reduce unwieldy business data into easily understood terms.

Bibliography

See R. Marris, Economic Arithmetic (1958).


index number [′in‚deks ‚nəm·bər]
(statistics)
A number indicating change in magnitude, as of cost or of volume of production, as compared with the magnitude at a specified time, usually taken as 100; for example, if production volume in 1970 was two times as much as the volume in 1950 (taken as 100), its index number is 200.


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plan to build a military base value of $10 million in the southern city of Osh in Kyrgyzstan.
21 per cent) above its base value of 100 points in January 2003.
A BSE announcement says that the base period for each index dates back to 1 January 2006 and the base value was 1,000.
 
 
 
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