I Etienne Laspeyres Developed a Method in the Latter Part

question 89

Multiple Choice

i. Etienne Laspeyres developed a method in the latter part of the 19^th century to determine a weighted index using base-period weights. ii. If we are constructing a weighted index of the price of food for 2000 using the Laspeyres' method and 1982-84 = 100, we use the amounts consumed in the base period, q₀, as weights.
iii. The Laspeyres' method changes in buying patterns over time.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) and (ii) are correct statements but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (i), (ii), and (iii) are all false statements.

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Definitions:

Seasonal Job

Employment opportunities that are limited to a certain time of the year, often related to the demand for specific industries or activities.

Off Season Employment

Work opportunities that are available or taken up during the off-peak times of a particular industry or occupation.

Risk

The possibility of facing harm or loss, which can arise from a variety of sources, including financial uncertainty, strategic decisions, or external events.

Self-Interest

The focus on one's own advantage or well-being without necessarily considering that of others.