The index number for the price of a good in 2002 was 142 and in 2003, it was 148.5, on a base year of 1994. What is the percent increase in price of gasoline from 2002 to 2003

Related MCQs

• The ratio of a new price to the base year price is called the:
• Paasche index was developed by ______economist Hermann Paasche for measuring current price or quantity levels relative to those of a selected base period
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• The Laspeyres price index:
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