Table 1.15 shows the prices of three items in 2000 and 2010. a. Construct a price index

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Table 1.15 shows the prices of three items in 2000 and 2010.

a. Construct a price index that is equal to 100 in 2000. What is the value of your index in 2010? What is the percentage change in your index between 2000 and 2010?

b. Construct a price index that is equal to 100 in 2010. What is the value of your index in 2000? What is the percentage change in your index between 2000 and 2010?image text in transcribed

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