Multiple Choice
To convert a current price of a product to its price in the past,we would take the current price of a product and
A) divide by the current price index and then add the previous price index.
B) multiply by the ratio of the current price index to the previous price index.
C) multiply by the ratio of the previous price index to the current price index.
D) divide by the ratio of the previous price index to the current price index.
E) average the chain-weighted consumer price index (CPI) and the traditional CPI of the previous year,and then multiply the current price by the average of the two.
Correct Answer:
Verified
Correct Answer:
Verified
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