#9 Talking 2002 as the base year (2002=100), the consumer price index in 2000 wa
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#9 Talking 2002 as the base year (2002=100), the consumer price index in 2000 was Year Output Good Good Good Good Good Good A. 2000 1 20012 2002 2 2003 3 Nominal GDP in 2000 was 1. a. 28 b. 29 c. 30 d. 32 e. 34 2. Nominal GDP in 2001 was a. 28 b. 29 c. 30 d. 3 3. Nominal GDP in 2002 was a. 28 b. 29 d. 34 e. 36 4. Nominal GDP In 2003 was a. 33 b. 3 C. 40 d. 42 e. 44 If the consumption basket contains one unit of each good, the price of the basket in 2000 was 5. dollars. a. b. 8 d. 12 e. 14 6. If the consumption basket contains one unit of each good, the price of the basket in 2001 was dollars. b. 4 7. If the consumption basket contains one unit of each good, the price of the basket in 2002 was dollars. b. 8 d. 12 e. 14 If the consumption basket contains one unit of each good, the price of the basket in 2003 wasdollars. 8. b. 7 C. 8 d. 9 e. 10 Taking 2002 as the base year (2002 = 100), the consumer price index in 2000 was a. 33.34 b. 55.56c. 66.67d. 77.78 e. 100.00 10. Taking 2002 as the base year (2002 100), the consumer price index in 2001 was a. 33.34 b. 55.56 C. 66.67 d. 77.78 e. 100.00Explanation / Answer
Q-9:
ANS: Consumer Price Index =Price of Current year(calculating year)/Price of Base Year x100
Here price of current year = Add all the Current Year price (1+2+3)=6
Price of Bse year= Add all the Base year Price (3+3+3)=9
CPI=6/9*100=66.67
That means CPI in 2000 is 66.67 ..This means prices increases from in 2000 to 2002 is 100-66.67=33.33
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