Consider the Following Table That Provides the Simple Price Indices

question 23

Short Answer

Consider the following table that provides the simple price indices for an item from 2006 through 2008.
A) If the price of the good in 2006 was $8, compute the price in 2008.
B) If the base year is changed to 2007, compute the value of the updated simple price index in 2008

• A) If the price of the good in 2006 was $8, compute the price in 2008.
• B) If the base year is changed to 2007, compute the value of the updated simple price index in 2008

---

Definitions:

Nonjudgmental Setting

A supportive environment where individuals feel safe to express themselves without fear of criticism or judgment.

Rational-emotive Behavior Therapy

A form of psychotherapy that helps individuals identify self-defeating thoughts and feelings, challenge the rationality of those feelings, and replace them with healthier, more productive beliefs.

Albert Ellis

An American psychologist known for developing Rational Emotive Behavior Therapy (REBT), a form of psychotherapy aimed at resolving emotional and behavioral problems.

Existential Therapy

A form of psychotherapy that focuses on individual freedom, choice, and meaning in life, emphasizing the human condition as a whole.