#5 If the consumption basket contains one unit each good , the price of the bask
ID: 1104669 • Letter: #
Question
#5 If the consumption basket contains one unit each good , the price of the basket in 2001 was ______ dollars. Use information in the table below to answer questions 1 through 25: Output Prices (in Dollars) Good Good Good Good Good Good Year 20001 2 8 1 2 3 2001 2 2002 | 2 | 3 | 6 | 3 31-3- 2003 3 353 1. Nominal GDP in 2000 was a. 28 b. 29 c. 30 d. 32 e. 34 2. Nominal GDP in 2001 was b. 29 C. 30 d. 3 e. 34 3. Nominal GDP in 2002 was b. 29 a. 28 d. 34 e. 36 4. Nominal GDP in 2003 was a. 33 5. If the consumption basket contains one unit of each good, the price of the a. 6 6. If the consumption basket contains one unit of each good, the price of the c. 40 d. 42 e. 44 basket in 2000 was dollars c. 10 b. 8 d. 12 e. 14 basket in 2001 was dollars. b. 4 C. 5 d. 7 7. If the consumption basket contains one unit of each good, the price of the basket in 2002 was dollars a. b. 8 d. 12 e. 14 8. If the consumption basket contains one unit of each good, the price of the a. 6 9. Taking 2002 as the base year (2002 -100), the consumer price index in a. 33.34 10. Taking 2002 as the base year (2002 100), the consumer price index in a. 33.34 basket in 2003 wasdoilars b. 7 C. 8 e. 10 2000 was b. 55.56c. 66.67 d. 77.78 e. 100.00 2001 was b. 55.56 c. 66.67d. 77.78 e. 100.00Explanation / Answer
you have asked question:
If the consumption basket contains one unit each good , the price of the basket in 2001 was ______ dollars.
so the price of the basket in 2001 was=1*2+1*2+1*3=7
the above is the answer
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