State whether the following statement is True or False: Purchasing power of money = Cost of Living Index Number1Cost of Living Index Number - Mathematics and Statistics

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MCQ
True or False

State whether the following statement is True or False:

Purchasing power of money = `1/"Cost of Living Index Number"`

Options

  • True

  • False

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Solution

True

Concept: Uses of Cost of Living Index Number
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Chapter 2.5: Index Numbers - Q.3
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