Explain the use of a base year in measuring output

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asked May 12, 2021 103k views

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Hsc · Answer 1 · 2021-05-18T05:27:56+0000

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A base year is used for comparison in the measure of a business activity or economic index. For example, to find the rate of inflation between 2013 and 2018, 2013 is the base year or the first year in the time set.

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Explain the use of a base year in measuring output

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