Data for Selected Vegetables Purchased at Wholesale Prices for 1995

question 20

Multiple Choice

Data for selected vegetables purchased at wholesale prices for 1995 and 2000 are shown below. What is Laspeyres' price index?

• A) 98.4
• B) 107.0
• C) 108.0
• D) 117.5
• E) 115.6

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Definitions:

Restricting Payment

Implies conditions or limitations placed on the distribution or release of funds.

Special Indorsement

A signature on a negotiable instrument, such as a check, that specifies the person to whom the instrument is to be payable, thereby restricting further transfer.

Pay to the Order

A phrase written on checks or drafts instructing the financial institution to pay the specified amount to the individual or entity named.

Trust

A fiduciary relationship in which one party, known as the trustee, holds property on behalf of another party, known as the beneficiary.