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
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter5: Buying The Necessities
Section: Chapter Questions
Problem 20AA
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QUESTION 19
YEAR
PRODUCT
1988
1989
1990
1991
product
price: $2.00
$4.00
$6.00
$8.00
quantity:
2,000
2,500
2,000
1,500
price: | $1.00
quantity:
price: | $5.00
quantity:
product
$1.00
$1.00
$1.00
Y
1,000
1,500
2,500
3,000
product
$4.00
$2.00
$3.00
1,000
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 pattern (market basket)?
100
1.2
153
150
200
QUESTION 20
Click Save and Submit to save and submit. Click Save All Answers to save all answers.
Save All Answe
AUG
61
28
29
Ps
W](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9c0e5bcd-7326-4d25-b77b-05cfdf46d9a1%2F047692a9-c226-4ebc-8769-b03cfa9585fd%2Few86d4_processed.jpeg&w=3840&q=75)
Transcribed Image Text:* Question Completion Status:
QUESTION 19
YEAR
PRODUCT
1988
1989
1990
1991
product
price: $2.00
$4.00
$6.00
$8.00
quantity:
2,000
2,500
2,000
1,500
price: | $1.00
quantity:
price: | $5.00
quantity:
product
$1.00
$1.00
$1.00
Y
1,000
1,500
2,500
3,000
product
$4.00
$2.00
$3.00
1,000
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 pattern (market basket)?
100
1.2
153
150
200
QUESTION 20
Click Save and Submit to save and submit. Click Save All Answers to save all answers.
Save All Answe
AUG
61
28
29
Ps
W
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