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

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:

Between 2001 and 2002, the percent change in the price level as measured by a fixed-weight index That uses production in 2001 as the fixed "basket"
Of goods was

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