For a Given Year,an Index Number of Average Prices Across

question 90

Multiple Choice

For a given year,an index number of average prices across the economy (in Canada,the Consumer Price Index) is the ratio of the

• A)price of several goods in the given year to that in the base year.
• B)simple average price of all goods in the given year to that in the base year.
• C)average price of several goods in the base year to that in the given year.
• D)weighted prices of a typical bundle of goods purchased in a given year to that in the base year.
• E)weighted prices of a typical bundle of goods purchased in the base year to that in the given year.

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Definitions:

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