I Etienne Laspeyres Developed a Method in the Latter Part

Multiple Choice

i. Etienne Laspeyres developed a method in the latter part of the 19^th century to determine a weighted index using base-period weights. ii. If we are constructing a weighted index of the price of food for 2000 using the Laspeyres' method and 1982-84 = 100, we use the amounts consumed in the base period, q₀, as weights.
iii. The Laspeyres' method allows for a meaningful comparison of prices over time; however, if does not reflect changes in buying patterns over time.

A) (i) , (ii) , and (iii) are all correct statements.
B) (i) and (ii) are correct statements but not (iii) .
C) (i) and (iii) are correct statements but not (ii) .
D) (ii) and (iii) are correct statements but not (i) .
E) (i) , (ii) , and (iii) are all false statements.