Question

1. With the help of an example show how increases in the price level can be measured.

2. Describe the steps in the construction of consumer price index.

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Answer 1

answer of 1st question

Explanation:

The price level is the average of the current price of good and services produced in the economy.

Price level are expressed in small ranges or as discrete valuse such as dollar figure

Answer 2

Answer:

Photosynthesis is the process of preparing food using sunlight and water...

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