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This is called bilateral index number theory as opposed to multilateral index number theory, which deals with many periods instead of just two. However, multilateral approaches can readily be built up using bilateral index number theory.
Types of Index numbers:
There are various types of index numbers, but in brief, we
shall take three kinds and they are
(a) Price Index, (b) Quantity Index and (c) Value Index (d) Consumer Price
(a) Price Index:
For measuring the value of money, in general, price index is used...
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However, multilateral approaches can readily be built up using bilateral index number theory.
Types of Index numbers:
There are various types of index numbers, but in brief, we
shall take three kinds and they are
(a) Price Index, (b) Quantity Index and (c) Value Index (d) Consumer Price
(a) Price Index:
For measuring the value of money, in general, price index is used...
Essay fragment
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