Instruction 14-21
Given Below Are the Average Prices for Three

question 76

Short Answer

Instruction 14-21
Given below are the average prices for three types of energy products in Australia from 2006 to 2010.
$$\begin{array} { | l | c | c | c | } \hline \text { Year } & \text { Electricity } & \text { Natural Gas } & \text { Fuel Oil } \\\hline 2006 & 43.205 & 25.893 & 0.892 \\\hline 2007 & 16.959 & 28.749 & 0.969 \\\hline 2008 & 47.202 & 28.933 & 1.034 \\\hline 2009 & 48.874 & 29.872 & 0.913 \\\hline 2010 & 48.693 & 28.384 & 0.983 \\\hline\end{array}$$
-Referring to Instruction 14-21,what is the Laspeyres price index for the group of three energy items in 2009 for a family that consumed 15 units of electricity,24 units of natural gas and 200 units of fuel oil in 2006 using 2006 as the base year?

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Definitions:

French Canadians

People of French descent who live in Canada, particularly in the province of Quebec, known for maintaining a distinct French culture, language, and identity.

French and Indian War

The conflict between France and Britain in North America from 1754 to 1763, part of a series of global conflicts known as the Seven Years' War.

Royal Navy

The United Kingdom's naval warfare force, historically one of the most powerful in the world and a key player in establishing the British Empire.

Seven Years' War

A global conflict that took place between 1756 and 1763, involving most of the great powers of the time and affecting Europe, North America, Central America, the West African coast, India, and the Philippines.