B3. The following table shows the gold prices in recent 4 years:Price Index(USS per ounce) (Base 2018)I2018 =?PriceYear20181328201920201294Iz019 =?1562I2020 =?2021I2021 =?1949(a) Calculate all the simple price indexes by using 2018 as the base year.(b) Calculate the percentage change from 2020 to 2021.

Price index, proportion of relative cost changes, comprising of a progression of numbers organized…

Price Price Index Year (USS per ounce) (Base = 2018) I2018 =? 2018 1328 2019 1294 Iz019 =? 2020 1562 I2020 =? 2021 1949 I2021 =? (a) Calculate all the simple price indexes by using 2018 as the base (h) from 2020 to 021

Price Price Index Year (USS per ounce) (Base = 2018) I2018 =? 2018 1328 2019 1294 Iz019 =? 2020 1562 I2020 =? 2021 1949 I2021 =? (a) Calculate all the simple price indexes by using 2018 as the base (h) from 2020 to 021

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

B3. The following table shows the gold prices in recent 4 years:
Price Index
(USS per ounce) (Base 2018)
I2018 =?
Price
Year
2018
1328
2019
2020
1294
Iz019 =?
1562
I2020 =?
2021
I2021 =?
1949
(a) Calculate all the simple price indexes by using 2018 as the base year.
(b) Calculate the percentage change from 2020 to 2021.

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