The current cost of a market basket of goods is $6000.The cost of the same basket of goods in the base year was $4000.What is the current price index?

Name: The current cost of a market basket of goods is $6000.The cost of the same basket of goods in the base year was $4000.What is the current price index?
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Question

Quizplus · Accepted Answer

The price index is calculated by dividing the current cost by the base year cost and then multiplying by 100. So, ($6000/$4000) * 100 = 150.

The Current Cost of a Market Basket of Goods Is