Solved

The Country of Old Jersey Produces Milk and Butter,and It

Question 4

Multiple Choice

The country of Old Jersey produces milk and butter,and it has published the following macroeconomic data,where quantities are in gallons and prices are dollars per gallon:
20002001 Good  Quantity  Price  Quantity  Price  Milk 500$2900$3 Butter 2000$13000$2\begin{array} { l c r c c } & 2000 &&{ 2001 } \\\hline \text { Good } & \text { Quantity } & \text { Price } & \text { Quantity } & \text { Price } \\\hline \text { Milk } & 500 & \$ 2 & 900 & \$ 3 \\\text { Butter } & 2000 & \$ 1 & 3000 & \$ 2 \\\hline\end{array}
Between 2000 and 2001,the percent change in the price level as measured by a variable-weight price index was


A) 60.00%.
B) 81.25%.
C) 83.33%.
D) 123.08%.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions