consider the following price index in 2017:85; price index in 2018: 100; price index 2019: 110; price index in 2020: 129; price index in 2021:.151, the base year is
Answer
2018
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The price index is 100 in the base year.
Price index =( current year basket cost /base year basket cost)*100
The current year ad base year is the same so the basket cost is the same
Price index in base year =( current year basket cost /base year basket cost)*100=1*100=100
consider the following price index in 2017:85; price index in 2018: 100; price index 2019: 110;...
If the consumer price index was 88 in 2017,95 in 2018, and 100 in 2019, then the base year must be 2017 The base year cannot be determined from the given information 2018 2019
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