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Transcript of 2.2 Indices
A consumer price index (
) measures changes in the price level of a market basket of consumer goods and services purchased by households.
is a measure of the total market value of the shares of over 200 of the largest companies traded on the Toronto Stock Exchange.
composite index indicates trends for major Canadian corporations.
are used to show how indices change over time.They plot variable values versus time and join the adjacent data points with straight lines.
Time- series graph
is the most reported of the economic
indices because it is an important measure
The consumer price index
measures the cost of maintaining a constant standard of living
Cost of living index
Questions #22.214.171.124.13.14 pages 109-112
relates the value ofa variable to a base level which is often the value on a particular date.
the base level is set so that the index produces numbers that are easy to understand and compare.
Chart 25.2 (data) Consumer Price Index, all-items and energy
All-items excluding energy Energy
1992 100.0 100.0
1993 101.9 101.3
1994 102.0 101.8
1995 104.3 103.2
1996 105.9 106.2
1997 107.5 108.7
1998 109.0 104.3
1999 110.5 110.2
2000 112.2 128.1
2001 114.9 132.3
2002 118.1 129.6
2003 120.9 139.9
2004 122.6 149.3
2005 124.5 163.8
2006 126.6 172.2
Source: Statistics Canada, CANSIM table 326-0002.
is the general increase in prices which corresponds to a decrease in the value of money.
If we would like to examine how a variable changes over time it is better to use time-series graph to illustrate our findings