The table below shows hypothetical data for volumes of e- books and hardcover books sold over a 3- year period in a particular city. TABLE 2- 3
-For a given year,an index number of average prices across the economy (such as the Consumer Price Index) is the ratio of the
A) weighted prices of a typical bundle of goods purchased in a given year to that in the base year.
B) weighted prices of a typical bundle of goods purchased in the base year to that in the given year.
C) price of several goods in the given year to that in the base year.
D) average price of several goods in the base year to that in the given year.
E) average price of all goods in the given year to that in the base year.
Correct Answer:
Verified
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