Assume an economy which is producing only one product.Output and price data for a three-year period are as follows. Refer to the above data.If year 2 is chosen as the base year, the price index for year one is:
A)80
B)100
C)120
D)20

Question

Assume an economy which is producing only one product.Output and price data for a three-year period are as follows.  Refer to the above data.If year 2 is chosen as the base year, the price index for year one is:
A)80 
B)100 
C)120 
D)20

Quizplus · Accepted Answer

The Answer of Assume an economy which is producing only one product.Output and price data for a three-year period are as follows.  Refer to the above data.If year 2 is chosen as the base year, the price index for year one is:
A)80 
B)100 
C)120 
D)20

Assume an Economy Which Is Producing Only One Product