SCENARIO 16-17
Given Below Are the Prices of a Basket

question 94

Short Answer

SCENARIO 16-17
Given below are the prices of a basket of four food items from 2008 to 2012. $$\begin{array} { c r r r r } \hline \text { Year } & \text { Wheat(\$/Bushel) } & \text { Corn(\$/Bushel) } & \text { Soybeans(\$/Bushel) } & \text { Milk(\$/hundredweight) } \\\hline 2008 & 4.25 & 3.71 & 7.41 & 15.03 \\2009 & 3.43 & 2.7 & 7.55 & 13.63 \\2010 & 2.63 & 2.3 & 6.05 & 15.18 \\2011 & 2.11 & 1.97 & 4.68 & 14.72 \\2012 & 2.16 & 1.9 & 4.81 & 12.32\end{array}$$
-Referring to Scenario 16-17, what are the simple price indices for wheat, corn, soybeans and
milk, respectively, in 2010 using 2008 as the base year?

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Definitions:

Dissociation

Process whereby different facets of an individual’s sense of self, memories, or consciousness become split off from one another.

Catatonic

A behavioral syndrome marked by an inability to move normally, which can include motor immobility and excessive motor activity.

Psychotic

Relating to psychosis, characterized by a disconnect from reality, which may include delusions and hallucinations.

Melancholic

Describes a state characterized by deep sadness or depression, often without a clear cause, reflecting one of the four classical temperaments.