The price (in R) and quantity of a basket of three items for the years 2020 and 2022 are given in the table below. 2020 2020 2022 2022 ITEM PRICE (R) QUANTITY PRICE (R) QUANTITY X 100 200 150 250 Y 40 60 70 80 Z 20 90 40 110 Using 2020 as the base year, the Laspeyre's price index for this basket of items is: A. 158.7% B. 156.2% C. 152.8% D. 149.1%
The price (in R) and quantity of a basket of three items for the years 2020 and 2022 are given in the table below. 2020 2020 2022 2022 ITEM PRICE (R) QUANTITY PRICE (R) QUANTITY X 100 200 150 250 Y 40 60 70 80 Z 20 90 40 110 Using 2020 as the base year, the Laspeyre's price index for this basket of items is: A. 158.7% B. 156.2% C. 152.8% D. 149.1%
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter22: Inflation
Section: Chapter Questions
Problem 7SCQ: Go to this website (http://www.measuringworth.com/ppowerus/) for the Purchasing Power Calculator at...
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