Use the following information to calculate your answers to questions 23 through
ID: 1199289 • Letter: U
Question
Use the following information to calculate your answers to questions 23 through 26.
The table below gives the index prices of four items A, B, C, and D sold at a store in 2000 and 2014.
Item
2000 Price
2014 Price
2000 Quantity
2014 Quantity
A
$ 40
$45
1,000
800
B
55
74
1,900
5,000
C
95
105
600
3,000
D
250
320
50
200
What is the Laspeyres index for these items?
Select one:
a. 124
b. 22
c. 24
d. 122
e. 17.15
What is the Paasche index for these items?
Select one:
a. 24
b. 124
c. 22
d. 17.15
e. 122
According to Laspeyres index, prices in 2014 increased on average by how much over 2000?
Select one:
a. 17.15%
b. 124%
c. 22%
d. 122%
e. 24%
According to Paasche index, prices in 2014 increased on average by how much over 2000?
Select one:
a. 122%
b. 22%
c. 24%
d. 124%
e. 17.15%
Item
2000 Price
2014 Price
2000 Quantity
2014 Quantity
A
$ 40
$45
1,000
800
B
55
74
1,900
5,000
C
95
105
600
3,000
D
250
320
50
200
Explanation / Answer
Use the following information to calculate your answers to questions 23 through
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