Question

Construct Laspeyrest, Paasche and Fisher from the following data:

Answer 1

Step-by-step explanation:

The Laspeyres Price Index is a price index used to measure the economy’s general price level and cost of living, and to calculate inflation. The index commonly uses a base year figure of 100, with periods of higher price levels shown by an index greater than 100 and periods of lower price levels by indexes lower than 100.

A key differentiator between the Laspeyres Price Index and other indices (Paasche Price Index, Fisher Price Index, etc.) is that it uses weights taken from a base period.

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