Table 2 Year CPI (2005=100) CPI(2014=100) 2012 102.3 2013 110.5 99.8 2014 111.3 100.0 2015 102.5 2016 107.8 2017 112.3 (i) Compute CPI for year 2015 by using year 2005 as the base year. (ii) Compute CPI for year 2012 by using year 2014 as the base year. (iii) Construct another index series using 2016 as the base year and interpret the index number for the year 2017.

Table 2 Year CPI (2005=100) CPI(2014=100) 2012 102.3 2013 110.5 99.8 2014 111.3 100.0 2015 102.5 2016 107.8 2017 112.3 (i) Compute CPI for year 2015 by using year 2005 as the base year. (ii) Compute CPI for year 2012 by using year 2014 as the base year. (iii) Construct another index series using 2016 as the base year and interpret the index number for the year 2017.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment

Section: Chapter Questions

Problem 9WNG

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