Table 7.3 Units Purchased 2009 Blueberries 8 Price per Unit in 2010 2011 2012 $200 $200 $210 $240 Pineapples Cheese 5 $200 $250 $250 $3.00 3 $2,50 $3.00 $3.50 $4.00 Refer to Table 7.3. If 2011 is the base year, the price index in 2009 is 75.4 84.2. 118.8. 133.5.
Table 7.3 Units Purchased 2009 Blueberries 8 Price per Unit in 2010 2011 2012 $200 $200 $210 $240 Pineapples Cheese 5 $200 $250 $250 $3.00 3 $2,50 $3.00 $3.50 $4.00 Refer to Table 7.3. If 2011 is the base year, the price index in 2009 is 75.4 84.2. 118.8. 133.5.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter22: Inflation
Section: Chapter Questions
Problem 2SCQ: Construct the price index for a fruit basket in each year using 2003 as the base year.
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![Table 7.3
Units Purchased
2009
Blueberries
8
Price per Unit in
2010 2011 2012
$200 $200 $210 $240
Pineapples
Cheese
5
$200
$250 $250 $3.00
3
$2,50
$3.00
$3.50 $4.00
Refer to Table 7.3. If 2011 is the base year, the price index in 2009 is
75.4
84.2.
118.8.
133.5.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1a6dff2a-a390-46e3-ad39-00533c1367d9%2Fc7aaf077-fc26-4a1a-b63b-d84832cd0c21%2F5lu7h2m_processed.png&w=3840&q=75)
Transcribed Image Text:Table 7.3
Units Purchased
2009
Blueberries
8
Price per Unit in
2010 2011 2012
$200 $200 $210 $240
Pineapples
Cheese
5
$200
$250 $250 $3.00
3
$2,50
$3.00
$3.50 $4.00
Refer to Table 7.3. If 2011 is the base year, the price index in 2009 is
75.4
84.2.
118.8.
133.5.
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