Assume an economy that is producing only one product.Output and price data for a three-year period are as follows.Answer the question on the basis of these data. $\begin{array}{c}
\begin{array}{c}
\
\underline{\text { Year }} \
1 \
2 \
3
\end{array}
\begin{array}{c}
\text { Units of}\
\underline{\text {Output}}\
20\
25\
30
\end{array}
\begin{array}{c}
\text {Price Per}\
\underline{\text {Unit}}\
\$ 4 \
4\
6
\end{array}
\end{array}$
Refer to the data.If year 2 is chosen as the base year,the price index for year 1 is:

Question

Assume an economy that is producing only one product.Output and price data for a three-year period are as follows.Answer the question on the basis of these data. $\begin{array}{c}
\begin{array}{c}
\
\underline{\text { Year }} \
1 \
2 \
3
\end{array}
\begin{array}{c}
\text { Units of}\
\underline{\text {Output}}\
20\
25\
30
\end{array}
\begin{array}{c}
\text {Price Per}\
\underline{\text {Unit}}\
 \$ 4 \
4\
6 
\end{array}
\end{array}$
 Refer to the data.If year 2 is chosen as the base year,the price index for year 1 is:

Quizplus · Accepted Answer

The Answer of Assume an economy that is producing only one product.Output and price data for a three-year period are as follows.Answer the question on the basis of these data. $\begin{array}{c}
\begin{array}{c}
\
\underline{\text { Year }} \
1 \
2 \
3
\end{array}
\begin{array}{c}
\text { Units of}\
\underline{\text {Output}}\
20\
25\
30
\end{array}
\begin{array}{c}
\text {Price Per}\
\underline{\text {Unit}}\
 \$ 4 \
4\
6 
\end{array}
\end{array}$
 Refer to the data.If year 2 is chosen as the base year,the price index for year 1 is:

Assume an Economy That Is Producing Only One Product Refer to the Data