1) The table below gives the price and consumption (usage/sales) for two products x and y for four years. Using year 2000 as the base year calculate for each year, the a) Basic expenditure index b) Laspeyers price index, and Quantity x, qx c) Paasche price index Quantity y, q, Year Price of Price of y, Py х, р, 2000 R4 R3 3 2001 R5 6. R4 6. 2002 R6 4 R5 4 2003 R6 4 R7 4

1) The table below gives the price and consumption (usage/sales) for two products x and y for four years. Using year 2000 as the base year calculate for each year, the a) Basic expenditure index b) Laspeyers price index, and Quantity x, qx c) Paasche price index Quantity y, q, Year Price of Price of y, Py х, р, 2000 R4 R3 3 2001 R5 6. R4 6. 2002 R6 4 R5 4 2003 R6 4 R7 4

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 1SCQ: Table 22.4 shows the fruit prices that the typing college student purchased from 2001 to 2004. What...

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