Consider the Following Data on the Prices of Three Items,A,B,and

question 66

Multiple Choice

Consider the following data on the prices of three items,A,B,and C,from 2000 through 2002. Compute the unweighted price index for the three items for 2002,using 2000 as the base year.

• A) 98.26
• B) 98.48
• C) 109
• D) 101.46

---

Definitions:

Services Retailers

Businesses that sell intangible goods or services to consumers as opposed to physical, tangible products.

Mechanical Efforts

The physical work or labor applied through machines or mechanical processes in industrial or manufacturing contexts.

Supermarkets

Merchandise outlets that carry a wide and complex line of groceries, meat, dairy, produce, and baked goods plus a limited array of nonfood products.

Convenience Stores

Small retail outlets that offer a limited range of everyday items and are usually open for extended hours.