Exercise 31) The table below gives the price and consumption (usage/sales) for two products x andy for four years. Using year 2000 as the base year calculate for each year, theb) Laspeyers price index, andQuantity x, q,a) Basic expenditure indexYearc) Paasche price indexQuantity y, q,Price ofPrice of y, Pyх, р,2000R4R332001R56.R46.R5R72002R6442003R6442) Below is a table of items consumed in a hotel for three years together with the averageprice of each item for each of the three years. Using 2003 as the base year, calculate foreach subsequent year, thea) Basic expenditure index b) Laspeyers price index, and c) Paasche price indexd) Laspeyers volume index e) Paasche volume indexItem200320042005Quantity | Price (R)3.95QuantityPrice (R)QuantityPrice (R)Milk292031004.1032104.10Bread21903.6022303.8022004.00Eggs (each)0.607.2014.0016425175630.60178900.65Butter7306807.706508.30Cheese1135108614.9115016.00Margerine15746.8017007.2017207.50

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Exercise 3 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 b) Laspeyers price index, and Quantity x, q, a) Basic expenditure index Year c) Paasche price index Quantity y, q, Price of Price of y, Py х, р, 2000 R4 R3 3 2001 R5 R4 6. 2002 R6 R5 4 2003 R6 R7 4 644

Exercise 3 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 b) Laspeyers price index, and Quantity x, q, a) Basic expenditure index Year c) Paasche price index Quantity y, q, Price of Price of y, Py х, р, 2000 R4 R3 3 2001 R5 R4 6. 2002 R6 R5 4 2003 R6 R7 4 644

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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21. Given the data in the above table, what is the price index for 2015, using 2012 as the base year and using the 2012 consumption pattern (market basket)? a) 125 b) 153 c) 1.2 d) 164 e) 120
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Table 2.5.4 from BEA What categories of consumption expenditures have the highest inflation rate between 2012 and 2021? Are there any categories for which prices are relatively stanle or cheaper?
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