1. From the following data; construct the simple price index for each year by taking 2001 as base year and give the answer of the given questions: Year Price in OMR 1998 85 1999 65 2000 90 2001 80 2002 100 2003 140 2004 120 2005 130 i) By what % have the prices increased in 2003 and 2004? ii) How can you compare price in 1999 to that in 2000? III) Write a short note on the applications of Index Numbers.

1. From the following data; construct the simple price index for each year by taking 2001 as base year and give the answer of the given questions: Year Price in OMR 1998 85 1999 65 2000 90 2001 80 2002 100 2003 140 2004 120 2005 130 i) By what % have the prices increased in 2003 and 2004? ii) How can you compare price in 1999 to that in 2000? III) Write a short note on the applications of Index Numbers.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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