Formula of Laaspeyre's index number
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Distinguish between:
Laaspeyre's Index and Paasche's Index.
SOLUTION
Laaspeyre's Index
In Laspeyre's index, base year quantities are taken as weights.
The formula for calculating the index is:
p01 =
∑p1q0∑p0q0×100
Paasche's Index
In Paasche's index, current year quantities are taken as weights.
The formula for calculating the index is:
p01 =
Explanation:
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