Question: Using 2014 as the base period, compute a simple price index for each of the following commodities. Interpret your results. The index for the price

Using 2014 as the base period, compute a simple price index for each of the following commodities. Interpret your results. The index for the price of butter is (Round to two decimal places as needed.)

	2014	2015
butter	$1.94	$2.02
bus pass	$83.94	$96.36
Jewellery	$1546.78	$1486.16

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