Question 25Which one of the following statements is patently false?A In applying the Laspeyres indexes, the selection of the base year is of critical importance.B The weights used in the Laspeyres indexes are based in a historical period.C Generally, the Laspeyres indexes are robust to a structural change in weights.D Theoretically, the Laspeyres Index contains an inbuilt upward bias and thus overstates the actual value. 20152020ITEMPRICEQUANTITYPRICEQUANTITYCup of coffee8.505010.5060Toasted cheese sandwich13.003514.0025English muffin9.001209.50138The preliminary analysis of the data produced the following table:poqop1q1poqopoq1p1qop1q18.505010.506042551052563013.003514.00254553254903509.001209.501381080X11401311ΣWY2155Using the table of analysis shown above, answer the following questions (use 2015 as the base year):

Answer The correct option is 'Option C' Generally, the Laspeyres indexes are robust to a…

Question 25 Which one of the following statements is patently false? A In applying the Laspeyres indexes, the selection of the base year is of critical importance. B The weights used in the Laspeyres indexes are based in a historical period. C Generally, the Laspeyres indexes are robust to a structural change in weights. D Theoretically, the Laspeyres Index contains an inbuilt upward bias and thus overstates the actual value.

Question 25 Which one of the following statements is patently false? A In applying the Laspeyres indexes, the selection of the base year is of critical importance. B The weights used in the Laspeyres indexes are based in a historical period. C Generally, the Laspeyres indexes are robust to a structural change in weights. D Theoretically, the Laspeyres Index contains an inbuilt upward bias and thus overstates the actual value.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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