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Assume an Economy Which Is Producing Only One Product

Question 191

Multiple Choice

Assume an economy which is producing only one product.Output and price data for a three-year period are as follows. Assume an economy which is producing only one product.Output and price data for a three-year period are as follows. Refer to the above data.If year 2 is chosen as the base year, in years 1 and 3 the price index values, respectively, are: A) 4 and 6. B) 6 and 4. C) 120 and 100. D) 100 and 150. Refer to the above data.If year 2 is chosen as the base year, in years 1 and 3 the price index values, respectively, are:


A) 4 and 6.
B) 6 and 4.
C) 120 and 100.
D) 100 and 150.

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