Question

: What is the Cost of Living Index? In calculating a certain cost of living index number

the following weights were used: Food = 25, Clothing = 8, Rent = 7, Fuel and light = 5,

Miscellaneous = 5. Calculate the index for a date when the average percentage increases in

prices of items in the various groups over the base period were 32, 54, 47, 78 and 58

respectively.​

Answer 1

Answer:

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