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Krugman's Economics For The Ap® Course
3rd Edition
ISBN: 9781319113278
Author: David Anderson, Margaret Ray
Publisher: Worth Publishers
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Question
Chapter 15, Problem 1MCQ
To determine
The question requires us to determine the value of the
Expert Solution & Answer
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Explanation of Solution
Given,
Year 1 is the base year.
Price of goods in year 1 = $100
Price of goods in year 2 = $108
The price index for year 2 is 108.
Option “d” is correct.
Economics Concept Introduction
The formula for the price index is:
Chapter 15 Solutions
Krugman's Economics For The Ap® Course
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