Examine the following information as reported for the foods below in the years 2010 and 2019. 2010 2019 Price (S) Quantity Price (S) Quantity Item Eggs tone dozen) Chicken (S00 g) Bread (675 g) $2.75 27 $3.37 40 $3.20 $2.28 $3.57 $2.83 11 18 23 a) Compute a simple price index for each of the items, using the year 2010 as the base year. Enter them in the same order as above: Eggs, Chicken, Bread. Round answers to 1 decimal. b) Compute a simple aggregate price index . Use 2010 as the base period. Round to one decimal place. c) Compute the Laspeyres price index for 2019 using 2010 as the base year. Round to one decimal place.

Examine the following information as reported for the foods below in the years 2010 and 2019. 2010 2019 Price (S) Quantity Price (S) Quantity Item Eggs tone dozen) Chicken (S00 g) Bread (675 g) $2.75 27 $3.37 40 $3.20 $2.28 $3.57 $2.83 11 18 23 a) Compute a simple price index for each of the items, using the year 2010 as the base year. Enter them in the same order as above: Eggs, Chicken, Bread. Round answers to 1 decimal. b) Compute a simple aggregate price index . Use 2010 as the base period. Round to one decimal place. c) Compute the Laspeyres price index for 2019 using 2010 as the base year. Round to one decimal place.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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