Suppose that the index of prices recieved by famers for, Ask an Expert

Economics

Suppose that the index of prices recieved by famers for 2003 was 0.97 and the base year of the index was 1990. Then

a. Relative to 2003, farm prices were 97% higher in 1990.

b. Relative to 1990, farm prices were 3% lower in 2003.

c. Relative to 2003, farm prices were 3% lower in 1990.

d. Relative to 1990, farm prices were 97% higher in 2003.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91708233

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