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- A price is a statement of average prices relative to a base year value of a. deflator; 100 b. index; 100 c. deflator; 1,000 d. index; 1,000An economic variable is any economic measure that a.can vary over a range of values b.has a fixed value over time c.Has no effect on the economy d. NoneCalculate the value of APC when the value of consumption is 300 and income is 700
- Year Cost of basket (R) of consumer goods / services Base Year 2018 1850 2019 2190 2020 2380 2021 2560 Use the information in Table to measure the consumer price indexfor 2019, 2020 and 2021 respectively.Show your calculations and round off to two decimal places. Show how gross national product (GNI) can be derived from gross domesticproduct (GDP). Explain, with the aid of an equation, the components of the consumptionfunction.From 2007 to 2009 calculate the percentage change inin table plzz
