A Simple Price Index Is the Ratio of the Price

question 1

True/False

A simple price index is the ratio of the price of a commodity in the current period to its value in some base period, multiplied by 100.

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Definitions:

Ascertainable Criteria

Clear, definable factors or standards that can be measured or identified to make decisions or evaluate outcomes.

Categorical Imperative

The moral principle proposed by Immanuel Kant that actions are morally right only if they can be universally applied as a general rule for behavior.

Categorical Imperative

A concept developed by the philosopher Immanuel Kant as a way of evaluating motivations for action, stating that an action is morally right if it can be universally applied to everyone without contradiction.

Immanuel Kant

A German philosopher renowned for his work on the theory of ethics, particularly the concept of the categorical imperative, which asserts that actions are morally right if they can be universally applied.