Listed below are the top-steel producing nations, in millions of tons, for the year 2004. Express the amount produced by China, the European Union, Japan, and Russia as an index, using the United States as a base. What percent more steel does China produce than the United States?
A) 197
B) 252.6
C) 152.6
D) 52.6
E) 47.4
Correct Answer:
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Q1: i. An index number is a percent
Q2: i. The base number for most indexes
Q3: Listed below are the top-steel producing nations,
Q4: i. The base period for one index
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Q7: The average weekly earnings (including overtime) in
Q8: i. An index number is a percent
Q9: i. Etienne Laspeyres developed a method in
Q10: The wholesale price of a straight back
Q11: i. All indexes have the same base,
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