TABLE 16-1 Given Below Are the Average Prices for Three Types of Types

question 319

Short Answer

TABLE 16-1
Given below are the average prices for three types of energy products for five consecutive years.
-Referring to Table 16-1, what are the simple price indices for electricity, natural gas and fuel oil, respectively, in year 3 using year 5 as the base year?

---

Definitions:

Shipping Containers

Large, standardized metal boxes used for transporting goods securely by land or sea.

Moore's Law

The observation that the number of transistors on a microchip doubles approximately every two years, though the cost of computers is halved.

Shared Economy

A system in which an owner rents something they are not using, such as a room, a car, or even a service, to a stranger using peer-to-peer services.

Peer-to-Peer Services

A decentralized model where two individuals interact directly with each other, without intermediary third-parties, often facilitated by digital platforms.