Question: Compute a simple aggregate price index. Use 1990 as the base period. Price 1990 $0.287 Quantity 2016 Item Aluminum (cents per pound) Natural gas (1,000

Compute a simple aggregate price index. Use 1990 as the base period.

Price 1990 $0.287 Quantity 2016 Item Aluminum (cents per pound) Natural gas (1,000 cu. ft.) Petroleum (barrel) Platinum

Price 1990 $0.287 Quantity 2016 Item Aluminum (cents per pound) Natural gas (1,000 cu. ft.) Petroleum (barrel) Platinum (troy ounce) 1990 1,000 5,000 60,000 500 2016 1,200 4,000 60,000 600 $0.73 2.12 44.08 1,904.30 0.17 3.18 133.00

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