I an Index Is a Convenient Way of Comparing Changes

Multiple Choice

i. An index is a convenient way of comparing changes for different variables, i.e., average income and food prices.
Ii) No systematic approach to collecting and reporting data in index form was evident in North
America until about 1900.
Iii) The CPI can be used in determining "real" income.

A) (i) , (ii) and (iii) are all correct statements
B) (i) and (ii) are correct statements, but not (iii) .
C) (i) and (iii) are correct statements but not (ii) .
D) (ii) and (iii) are correct statements but not (i) .
E) All statements are false