consider the following price index in 2017:85; price index in 2018: 100; price index 2019: 110;...
consider the following price index in 2017:85; price index in 2018: 100; price index 2019: 110; price index in 2020: 129; price index in 2021:.151, the base year is
Homework Answers
Answer
2018
=====
The price index is 100 in the base year.
Price index =( current year basket cost /base year basket cost)*100
The current year ad base year is the same so the basket cost is the same
Price index in base year =( current year basket cost /base year basket cost)*100=1*100=100
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consider the following price index in 2017:85; price
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