Data for Selected Vegetables Purchased at Wholesale Prices for 1995

question 90

Multiple Choice

Data for selected vegetables purchased at wholesale prices for 1995 and 2007 are shown below. What is Laspeyres' price index?

• A) 98.4
• B) 107.0
• C) 108.0
• D) 117.5

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Definitions:

Credit Terms

Conditions under which a seller extends credit to a buyer, including payment deadlines and interest rates.

Discount Period

The time frame during which a payment can be made at a reduced rate before the full amount becomes due.

Annual Interest

The total amount of interest payable or receivable over one year, depending on whether the context is savings, investment, or a loan.

Credit

An accounting entry that increases liabilities and equity, or decreases an asset or expense account, representing the opposite of a debit.