Using the Price of the Following Food Items,compute the Aggregate

question 108

Essay

Using the price of the following food items,compute the aggregate index numbers for the four types of cheeses.Let 1990 be the base year for this market basket of goods.
$$\begin{array} { | l | l | l | l | } \hline \text { Item Price/pound } & 1990 & 1995 & 2000 \\\hline \text { Cheddar } & 1.31 & 1.53 & 1.40 \\\hline \text { Swiss } & 1.99 & 2.21 & 2.15 \\\hline \text { Provolone } & 2.14 & 1.92 & 2.68 \\\hline \text { Pepper jack } & 2.89 & 3.38 & 3.10 \\\hline\end{array}$$

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