#1
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Economic index numbers
The data presented below refers to a unit of production of wheat. Assume the only input used in this process of production is labour. Assume then that the only cost of production is wages. In addition, assume this unit of production has sold a constant quantity of wheat since 2000 to the present:
Year - Index of total wages(Nominal)- Consumers’ Price index - Index of real wages 2000 100 100 100 2001 105 103 102 2002 107 109 98 2003 110 112 98 2004 112 115 97 2005 112 118 95 2006 113 121 93 With the data available, calculate an index that informs the producer in which years to increase production of wheat and identify them. |
#2
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Re: Economic index numbers
sorry the index numbers are
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#3
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Re: Economic index numbers
just buy the teacher's eddition it has all the answers.
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