I Etienne Laspeyres Developed a Method in the Latter Part

question 12

Multiple Choice

i. Etienne Laspeyres developed a method in the latter part of the 19th century to determine a
Weighted index using base-period weights.
ii. If we are constructing a weighted index of the price of food for 2000 using the Laspeyres'
Method and 1982-84 = 100, we use the amounts consumed in the base period, q0, as weights.
iii. The Laspeyres' method allows for a meaningful comparison of prices over time; however, if does
Not reflect changes in buying patterns over time.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) and (ii) are correct statements but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (i), (ii), and (iii) are all false statements.

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Definitions:

Functions

The roles or activities specific entities are designed or expected to perform.

SQUID

SQUID stands for Superconducting Quantum Interference Device, and it's a highly sensitive magnetometer used to measure extremely subtle magnetic fields.

Results

Outcomes or consequences of actions, processes, or operations.

Hormones

Biochemical substances produced by various glands throughout the body, acting as messengers that regulate physiological processes and behavior.