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A price is a statement of average prices relative to a base year value of a. deflator; 100 b. index; 100 c. deflator; 1,000 d. index; 1,000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

A price
is a statement of average prices relative to a base year value of
a. deflator; 100
b. index; 100
c. deflator; 1,000
d. index; 1,000

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