YEAR PRODUCT 1988 1989 1990 1991 $6.00 $8.00 price: $2.00 quantity: price: $1.00 product $4.00 2,000 2,500 2,000 1,500 product $1.00 $1.00 $1.00 1,000 1,500 2,500 3,000 quantity: price: $5.00 Y $3.00 $2.00 1.000 product $4.00 quantity: 1,000 1,000 1,000 19. Given the data in the above table, what is the price index for 1990, using 1988 as the base year and using the 1988 consumption patterm (market basket)? O 100 O 1.2 O 153 O 150 O 200

YEAR PRODUCT 1988 1989 1990 1991 $6.00 $8.00 price: $2.00 quantity: price: $1.00 product $4.00 2,000 2,500 2,000 1,500 product $1.00 $1.00 $1.00 1,000 1,500 2,500 3,000 quantity: price: $5.00 Y $3.00 $2.00 1.000 product $4.00 quantity: 1,000 1,000 1,000 19. Given the data in the above table, what is the price index for 1990, using 1988 as the base year and using the 1988 consumption patterm (market basket)? O 100 O 1.2 O 153 O 150 O 200

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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