Year Quantity/Price Good 1 Good 2 Good 3 Total value Quantity 108 35 1990 54 3417 Price 15 39 8 1995 Quantity 101 59 79 5474 b. Compute the 2000 Laspeyres price index base 100 = 1990. Price c. Compute the 2005 Paasche quantity index base 100 = 1995. 15 43 18 Quantity 116 58 Answer the following questions. Round your answers to the nearest first decimal. a. Compute the 1995 Laspeyres quantity index base 100 = 2000. 74 2000 6742 Price 24 44 19 Quantity Price 31 132 2005 61 86 8948 50 21
Year Quantity/Price Good 1 Good 2 Good 3 Total value Quantity 108 35 1990 54 3417 Price 15 39 8 1995 Quantity 101 59 79 5474 b. Compute the 2000 Laspeyres price index base 100 = 1990. Price c. Compute the 2005 Paasche quantity index base 100 = 1995. 15 43 18 Quantity 116 58 Answer the following questions. Round your answers to the nearest first decimal. a. Compute the 1995 Laspeyres quantity index base 100 = 2000. 74 2000 6742 Price 24 44 19 Quantity Price 31 132 2005 61 86 8948 50 21
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 5SCQ: How to Measure Changes in the Cost of Living introduced a number of different price indices. Which...
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