Answered: price index

Business

Economics

price index

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

Suppose we shopped for a basket of goods in 2009 that cost $600. Suppose the same basket of goods costs $700 in 2010. If we use 2009 as a base year, what is the price index in 2010?

Question 27 options:

85.7

139

124

117

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