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02-01-2020
Business

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In 2013, the price for a market basket of consumer goods is $800. In the base year, the cost of the identical market basket was $1,000. The price index in this case is

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04-01-2020

Answer:

The price index is 0.8

Explanation:

Price index = price of consumer goods in 2013/price of consumer goods in the base year = $800/$1000 = 0.8

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