Question: Question 2 The table below is an extract from the records of a car parts manufacturer specialising in car seats. Three different types of car
Question 2 The table below is an extract from the records of a car parts manufacturer specialising in car seats. Three different types of car seats were produced during the periods shown in the table - the prices of each type of seat and production volumes are given. Volumes (000) 2019 2018 2020 2018 2020 Seat 1 145 Prices () 2019 149 190 101 152 0.9 1.1 1.0 Seat 2 175 0.6 0.7 0.5 210 109 Seat 3 104 1.2 1.4 1.5 (a) Calculate the base-weighted aggregate price indices for 2019 and 2020 by using 2018 as the base year (give your answer to two decimal places). [7 marks) (b) Calculate the current-weighted aggregate quantity indices for 2019 and 2020 by using 2018 as the base year (give your answer to two decimal places). [7 marks) (c) Calculate the base-weighted relative price index for 2020 only (give your answer to two decimal places). [6 marks)
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