Table 7.3 Units Purchased 2009 Blueberries 8 Price per Unit in 2010 2011 2012 $200 $200 $210 $240 Pineapples Cheese 5 $200 $250 $250 $3.00 3 $2,50 $3.00 $3.50 $4.00 Refer to Table 7.3. If 2011 is the base year, the price index in 2009 is 75.4 84.2. 118.8. 133.5.

Table 7.3 Units Purchased 2009 Blueberries 8 Price per Unit in 2010 2011 2012 $200 $200 $210 $240 Pineapples Cheese 5 $200 $250 $250 $3.00 3 $2,50 $3.00 $3.50 $4.00 Refer to Table 7.3. If 2011 is the base year, the price index in 2009 is 75.4 84.2. 118.8. 133.5.

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 2SCQ: Construct the price index for a fruit basket in each year using 2003 as the base year.

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Table 7.3
Units Purchased
2009
Blueberries
8
Price per Unit in
2010 2011 2012
$200 $200 $210 $240
Pineapples
Cheese
5
$200
$250 $250 $3.00
3
$2,50
$3.00
$3.50 $4.00
Refer to Table 7.3. If 2011 is the base year, the price index in 2009 is
75.4
84.2.
118.8.
133.5.

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