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Assume That There Are Three Types of Commodities (A,B and C)that

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Assume that there are three types of commodities (A,B and C) that are consumed at the base-year quantities and prices as shown in the following table: Assume that there are three types of commodities (A,B and C) that are consumed at the base-year quantities and prices as shown in the following table:   What is the price index at the end of 2013? A)  1.0597281 B)  0.9588235 C)  1.0461538 D)  None of the given options is correct. What is the price index at the end of 2013?


Definitions:

Risk Society

A society where the management and prevention of risks, particularly those that are man-made, become central to social, political, and economic life.

Technological Determinism

The theory that technology shapes and determines the development of human social structure and cultural values.

Normal Accidents

The concept that in complex systems, accidents are unavoidable and inherent due to the intricate interactions and dependencies of system components.

Capital Investment

Money spent by a business entity to acquire or upgrade physical assets such as property, industrial buildings, or equipment to increase its long-term revenue.

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