Author Question: Suppose the current price of DVDs is 16, while its base-year price is 11.50 . The value of the price ... (Read 539 times)

debasdf · **on:** Jun 30, 2018

Suppose the current price of DVDs is 16, while its base-year price is 11.50 . The value of the price index for the current year is approximately:
a. 139
b. 39
c. 25
d. 160
e. 172

Question 2

Suppose the price index is 100 in the base year and the price of a pound of oranges in that year is 1.96 . Now, if the price index changes to 105 in the following year, how much would a pound of oranges cost?
a. 2.45
b. 0.25
c. 1.96
d. 2.06
e. 1.50