Consider the Following Data on the Prices of Three Items

question 29

Multiple Choice

Consider the following data on the prices of three items, A, B, and C, from 2000 through 2002. If the price of item C in 2002 was 210 instead of 207, which of the following is the unweighted aggregate price index for 2002 for the three items, using 2000 as the base year?

• A) 98.09
• B) 100.45
• C) 102.03
• D) 101.94

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Definitions:

Value Signal

An indication or measure that suggests the economic worth or utility of a product, service, or asset to consumers.

Credible Signal

An action taken by a party to demonstrate its ability or intention in a way that can be trusted or believed by others.

Consistent Message

Communication that is uniform and remains the same across different platforms and over time, enhancing brand recognition and trust.

Perceived Market Value

The value that consumers believe a product or service is worth, which may differ from its actual market price or cost of production.