The table below provides price and quantity information for selected goods for 2000 and 2013.
Item
Price
Quantity
2000
2009
2000
2009
Cabbage (pound)
$0.06
$0.05
2,000
1,500
Carrots (bunch)
0.10
0.12
200
200
Peas (quart)
0.20
0.18
400
500
Endive (bunch)
0.15
0.15
100
200
Compute a simple price index for each of the four items. Use 2000 as the base period.
Compute a simple aggregate price index. Use 2000 as the base period.
Compute Laspeyres’ price index for 2009 using 2000 as the base period.
Compute Paasche’s index for 2009 using 2000 as the base period.
Determine Fisher’s ideal index using the values for the Laspeyres and Paasche indexes computed in the two previous problems.
Determine a value index for 2009 using 2000 as the base period.