SOLUTION: 1. The following shows the food consumption of a family in 2007 and 2011.
Food Price ($ /kg) Consumption (kg)
2007 2011 2007 2011
Rice 7.0 8.3 40
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-> SOLUTION: 1. The following shows the food consumption of a family in 2007 and 2011.
Food Price ($ /kg) Consumption (kg)
2007 2011 2007 2011
Rice 7.0 8.3 40
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Question 1191399: 1. The following shows the food consumption of a family in 2007 and 2011.
Food Price ($ /kg) Consumption (kg)
2007 2011 2007 2011
Rice 7.0 8.3 40 29
Meat 62 72 60 54
Vegetables19 24 90 106
Fruits 23 25 70 82
Calculate the simple composite price index, Laspeyres price index, Paasche price index and Fisher price index by choosing 2007 as the base period. (10 marks)
