Assume an economy that makes only one product and that year 3 is the base year.Output and price data for a five-year period are as follows.Answer the question on the basis of these data.
Refer to the data.If year 3 is chosen as the base year,the price index for year 1 is:
A) 140.
B) 40.
C) 167.
D) 60.
Correct Answer:
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