TABLE 16-14
Given Below Are the Average Prices for Three

question 122

Short Answer

TABLE 16-14
Given below are the average prices for three types of energy products in the United States from 1992 to 1995.
$$\begin{array} { c c c c } \text { Year } & \text { Electricity } & \text { N atural Gas } & \text { Fuel Oil } \\1992 & 43.205 & 25.893 & 0.892 \\1993 & 16.959 & 28.749 & 0.969 \\1994 & 47.202 & 28.933 & 1.034 \\1995 & 48.874 & 29.872 & 0.913 \\1996 & 48.693 & 28.384 & 0.983\end{array}$$
-Referring to Table 16-14, , what is the unweighted aggregate price index for the group of three energy items in 1996 using 1992 as the base year?

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Definitions:

Dominant Tenement

In property law, the estate that benefits from an easement that burdens a neighboring estate (the servient tenement).

Estate in Land

A legal interest or right in a property, determining the duration and nature of ownership.

Fee Simple

A legal term referring to the most extensive ownership interest in land that one can possess, which is unlimited in duration, inheritable, and not subject to any restrictions.

Joint Tenants

Joint tenants are co-owners of property who share equal rights to the entire property and have a right of survivorship, meaning when one dies, the other automatically inherits the entire property.