i. Etienne Laspeyres developed a method in the latter part of the 19^thcentury to determine a weighted index using base-period weights. ii. If we are constructing a weighted index of the price of food for 2000 using the Laspeyres' method and 1982-84 = 100, we use the price of food in the base period, q₀, as weights. iii. The Laspeyres' method allows for a meaningful comparison of prices over time; however, if does not reflect changes in buying patterns over time. A) (i), (ii), and (iii) are all correct statements. B) (i) and (ii) are correct statements but not (iii). C) (i) and (iii) are correct statements but not (ii). D) (ii) and (iii) are correct statements but not (i). E) (i), (ii), and (iii) are all false statements.

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The Answer of i. Etienne Laspeyres developed a method in the latter part of the 19^thcentury to determine a weighted index using base-period weights. ii. If we are constructing a weighted index of the price of food for 2000 using the Laspeyres' method and 1982-84 = 100, we use the price of food in the base period, q₀, as weights. iii. The Laspeyres' method allows for a meaningful comparison of prices over time; however, if does not reflect changes in buying patterns over time. A) (i), (ii), and (iii) are all correct statements. B) (i) and (ii) are correct statements but not (iii). C) (i) and (iii) are correct statements but not (ii). D) (ii) and (iii) are correct statements but not (i). E) (i), (ii), and (iii) are all false statements.

I Etienne Laspeyres Developed a Method in the Latter Part