Chain based index

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October 30, 2016 at 7:20 pm #346739
tony0117
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Thank you for your help!

Could you please explain why chain based index is?
October 30, 2016 at 7:59 pm #346744
John Moffat
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A chain-based index is an index number in which the value of any given period is related to the value of its immediately preceding period.

However it is rarely of much use, and is very rarely relevant for the exam.
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