A Simple Index Is Computed by Using the Values of One

question 39

Multiple Choice

A simple index is computed by using the values of one time series, while a(n) ________ index is based on a "market basket" consisting of more than one time series.

• A) weighted
• B) aggregate
• C) cyclical
• D) trend

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Definitions:

Labor

Work performed by humans that is used in the production of goods and services.

Equivalent Unit

A metric in cost accounting that quantifies the effort invested in partially finished units by equating it to the output of completely finished units.

First-in

implies the method where the earliest goods produced or acquired are the first to be used or sold.

Materials

Inputs and supplies used in the production of goods or in the provision of services.