The formula for calculating a price index for the year 2013, using the year 2008 as a reference period is Price of 2013 market basket in 2013 × 100 / Price of 2013 market basket in 2008 Price of 2008 market basket in 2013 × 100 / Price of 2008 market basket in 2008 Price of 2013 market basket in 2008 × 100 / Price of 2008 market basket in 2008 Price of 2008 market basket in 2008 × 100 / Price of 2008 market basket in 2013
The formula for calculating a price index for the year 2013, using the year 2008 as a reference period is Price of 2013 market basket in 2013 × 100 / Price of 2013 market basket in 2008 Price of 2008 market basket in 2013 × 100 / Price of 2008 market basket in 2008 Price of 2013 market basket in 2008 × 100 / Price of 2008 market basket in 2008 Price of 2008 market basket in 2008 × 100 / Price of 2008 market basket in 2013
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The formula for calculating a price index for the year 2013, using the year 2008 as a reference period is
Price of 2013 market basket in 2013 × 100 / Price of 2013 market basket in 2008
Price of 2008 market basket in 2013 × 100 / Price of 2008 market basket in 2008
Price of 2013 market basket in 2008 × 100 / Price of 2008 market basket in 2008
Price of 2008 market basket in 2008 × 100 / Price of 2008 market basket in 2013
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