Britney is a baseball fan and attends several games per season. Her expenses per season are listed in the table below: Year 1 Year 2 5 Baseball Tickets $500 $560 Jersey $120 $150 Food $150 $160 Transport $60 $70 Assuming that year 1 is the base year, calculate the price index for year 1 and for year 2. Question 3 options: 88, 100 88, 113 100, 113 100, 88
Britney is a baseball fan and attends several games per season. Her expenses per season are listed in the table below: Year 1 Year 2 5 Baseball Tickets $500 $560 Jersey $120 $150 Food $150 $160 Transport $60 $70 Assuming that year 1 is the base year, calculate the price index for year 1 and for year 2. Question 3 options: 88, 100 88, 113 100, 113 100, 88
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Britney is a baseball fan and attends several games per season. Her expenses per season are listed in the table below:
Year 1 | Year 2 | |
5 Baseball Tickets | $500 | $560 |
Jersey | $120 | $150 |
Food | $150 | $160 |
Transport | $60 | $70 |
Assuming that year 1 is the base year, calculate the price index for year 1 and for year 2.
Question 3 options:
|
88, 100
|
|
88, 113
|
|
100, 113
|
|
100, 88
|
Expert Solution
Step 1
The given table shows the expenses of Britney for a season of baseball km teoyear where year 1 is a base year
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