This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: To define a price index number, decisions about three components are necessary. Name two of those ... (Read 42 times)

darbym82

  • Hero Member
  • *****
  • Posts: 570
on: Jul 24, 2018
To define a price index number, decisions about three components are necessary. Name two of those components.

Question 2

Suppose a gallon of gasoline cost 39 cents in 1970, and in 2004 it cost 1.65 . What is the gasoline price index in 2004, using 1970 as the base year? Interpret your answer.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jgranad15

  • Sr. Member
  • ****
  • Posts: 345
Reply #1 on: Jul 24, 2018
Answer to Question 1

ANY TWO OF THE FOLLOWING ARE OK: 1) THE BASE YEAR OR TIME PERIOD; 2) THE LIST OF GOODS AND SERVICES TO BE INCLUDED; 3) HOW TO WEIGHT THE PARTICULAR GOODS AND SERVICES.

Answer to Question 2

423; GASOLINE IN 2004 COST 423 OF WHAT IT COST IN 1970.


darbym82

  • Member
  • Posts: 570
Reply 2 on: Jul 24, 2018
:D TYSM

bimper21

  • Member
  • Posts: 309
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Walt Disney helped combat malaria by making an animated film in 1943 called The Winged Scourge. This short film starred the seven dwarfs and taught children that mosquitos transmit malaria, which is a very bad disease. It advocated the killing of mosquitos to stop the disease.

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

Elderly adults are living longer, and causes of death are shifting. At the same time, autopsy rates are at or near their lowest in history.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Nucleotides and their components Nucleotides and their components
Components of Bone Components of Bone
The Three Components of Pain The Three Components of Pain
Listening to Normal Speech or Its Prosodic Components Functional MRI scans were made while subjects Listening to Normal Speech or Its Prosodic Components Functional MRI scans were made while subjects
Example of the Index to Diseases and Injuries. Example of the Index to Diseases and Injuries.
The charge for telephone calls T is partly constant and partly varies with the number N of ... The charge for telephone calls T is partly constant and partly varies with the number N of ...
Video: Ultrasound of a Fetus (Sonogram)

For a complete list of videos, visit our video library