Answer in two or three sentence.Why is the base year important in the construction of an index number ?
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Fill in the blanks. ||Year||Real GDP (in 2000 dollars)||Nominal GDP (in current dollars)||GDP Deflator (base year 2000) |1970|3,000|1,200| |1980|5,000| |60 |1990| |6,000|100 |2000| |8,000| |2010| |15,000|200 |2020|10,000| |300 |2030|20,000|50,000 ...
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