Consider the Following Data on the Prices of Three Items

question 94

Multiple Choice

Consider the following data on the prices of three items, A, B, and C, from 2000 through 2002. Which of the following is the unweighted aggregate price index for the three items for 2002, using 2001 as the base year?

• A) 98.48
• B) 101.54
• C) 109.5
• D) 102.58

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Definitions:

Plantation Slavery

A system of agriculture in the Americas where large farms (plantations) used the forced labor of enslaved Africans and African Americans to produce crops like tobacco, sugar, and cotton.

Atlantic Coast

The eastern seaboard of the United States, stretching from Maine to Florida, characterized by diverse ecosystems and significant historical importance.

Portugal

A country located on the southwestern edge of Europe, known for its rich history, cultural heritage, and significant contributions to global exploration.

Vasco Da Gama

A Portuguese explorer who was the first to sail directly from Europe to India by navigating around Africa's Cape of Good Hope.