What does a price index of 180 mean? How much have prices risen since the base year?

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Economics Barrons Business Review Series

ISBN: 9781438008776

6th Edition

Authors: Walter J. Wessels

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Question Posted: Feb 18, 2024 04:01 AM

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If a set basket of goods costs $6,000 in the current year and $5,000 in the base year, how much have prices risen since the base year? a) 20% b) 83% c) 120% d) 183%
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What does a price index of 180 mean? How much have prices risen since the base year?

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Economics Barrons Business Review Series

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