TABLE 16-2
Given below are the prices of a basket of four food items from 2006 to 2010.

-Referring to Table 16-2, what is the Laspeyres price index for the basket of four food items in 2009 that consisted of 50 bushels of wheat, 30 bushels of corn, 40 bushels of soybeans and 80 hundredweight of milk in 2006 using 2006 as the base year?

Question

TABLE 16-2
Given below are the prices of a basket of four food items from 2006 to 2010.
 
-Referring to Table 16-2, what is the Laspeyres price index for the basket of four food items in 2009 that consisted of 50 bushels of wheat, 30 bushels of corn, 40 bushels of soybeans and 80 hundredweight of milk in 2006 using 2006 as the base year?

Quizplus · Accepted Answer

The Answer of TABLE 16-2
Given below are the prices of a basket of four food items from 2006 to 2010.
 
-Referring to Table 16-2, what is the Laspeyres price index for the basket of four food items in 2009 that consisted of 50 bushels of wheat, 30 bushels of corn, 40 bushels of soybeans and 80 hundredweight of milk in 2006 using 2006 as the base year?

TABLE 16-2 Given Below Are the Prices of a Basket of Four