Mathematics · Data Interpretation
The price index in a country is based on three products: bread, meat, and televisions. The quantities purchased (in millions) and unit prices ($) for 20X1 and 20X2 are given below: Bread: 20X1 (200m, $1.00), 20X2 (220m, $0.90) Meat: 20X1 (150m, $5.00), 20X2 (190m, $5.20) Televisions: 20X1 (10m, $300.00), 20X2 (14m, 350.00) What is the percentage price rise between 20X1 and 20X2 using a current weightings (Paasche) approach?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 13.6%
- 212.9%
- 313.3%✓
- 454.1%
Correct answer
13.3%
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