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:

Problem Solvers

People who try to solve problems when they occur.

Problem Seekers

People who constantly process information looking for problems to solve, even before they occur.

Systematic Thinkers

Individuals who approach problems using a methodical and structured process, analyzing the parts of a system and how they work together.

Complex Problem

A challenge characterized by uncertainty, interconnected parts, and multiple possible solutions that is difficult to solve.