QUESTION 29 PRODUCT product X product Y product Z 1988 price: $2.00 quantity: 2.000 price: $1.00 quantity: 1,000 price: $5.00 quantity: 1,000 1989 $4.00 2.500 $1.00 1,500 $4.00 1,000 YEAR 1990 $6.00 2.000 $1.00 2,500 $2.00 1,000 1991 $8.00 1.500 $1.00 3,000 $3.00 1,000 29. Given the data in the above table, what is the price index for 1991, using 1988 as the base year and using the 1988 consumption pattern (market basket)? O a) 100 b) 153 O c) 12 d) 150 e) 200
QUESTION 29 PRODUCT product X product Y product Z 1988 price: $2.00 quantity: 2.000 price: $1.00 quantity: 1,000 price: $5.00 quantity: 1,000 1989 $4.00 2.500 $1.00 1,500 $4.00 1,000 YEAR 1990 $6.00 2.000 $1.00 2,500 $2.00 1,000 1991 $8.00 1.500 $1.00 3,000 $3.00 1,000 29. Given the data in the above table, what is the price index for 1991, using 1988 as the base year and using the 1988 consumption pattern (market basket)? O a) 100 b) 153 O c) 12 d) 150 e) 200
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
![QUESTION 29
PRODUCT
product
X
b)
product
Y
product
Z
153
1988
price: $2.00
2,000
O c) 1.2
O d) 150
O e) 200
quantity:
price: $1.00
1,000
quantity:
price:
quantity:
$5.00
1,000
1989
$4.00
2.500
$1.00
1,500
$4.00
1,000
YEAR
1990
$6.00
2.000
$1.00
2,500
29. Given the data in the above table, what is the price index for 1991, using 1988 as the base year and using the 1988 consumption pattern (market basket)?
O a) 100
$2.00
1,000
1991
$8.00
1.500
$1.00
3,000
$3.00
1,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F74052f68-8e67-4061-9fe5-626f46299eea%2Ffd201eb7-1037-4c72-adc0-cb21b91dbe12%2Fpz37gof_processed.png&w=3840&q=75)
Transcribed Image Text:QUESTION 29
PRODUCT
product
X
b)
product
Y
product
Z
153
1988
price: $2.00
2,000
O c) 1.2
O d) 150
O e) 200
quantity:
price: $1.00
1,000
quantity:
price:
quantity:
$5.00
1,000
1989
$4.00
2.500
$1.00
1,500
$4.00
1,000
YEAR
1990
$6.00
2.000
$1.00
2,500
29. Given the data in the above table, what is the price index for 1991, using 1988 as the base year and using the 1988 consumption pattern (market basket)?
O a) 100
$2.00
1,000
1991
$8.00
1.500
$1.00
3,000
$3.00
1,000
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