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Price Index Changes for Education, Housing, and Food from 1994 to 2003, Assignments of Business Economics

Adamas UniversityBusiness Economics

The price indices for education, housing, and food from 1994 to 2003, calculated as a percentage increase from the base year of 1994. The table shows the index values for each year and the percentage increase in expenses for each item compared to the previous year.

Typology: Assignments

2019/2020

Uploaded on 09/28/2021

trippy4redd
trippy4redd 🇮🇳

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A1Q3
a.Taking 1994 as base year,the indices for education,
housing and food will be as follows:
1.For education,
Year Procedure Index
1994 (13740/13740) 100× 100
1995 (15180/13740) 110.48
× 100
1996 (16380/13740) 119.21× 100
1997 (17700/13740) 128.82× 100
1998 (18940/13740) 137.84× 100
1999 (20260/13740) 147.45× 100
2000 (22280/13740) 162.15× 100
2001 (24510/13740) 178.38× 100
2002 (29300/13740) 213.24× 100
2003 (32230/13740) 234.57× 100
2.For housing,
Year Procedure Index
1994 (17100/17100) 100× 100
1995 (19100/17100) 111.69× 100
1996 (20500/17100) 119.88× 100
1997 (21920/17100) 128.18× 100
1998 (23520/17100) 137.54× 100
1999 (24620/17100) 143.97× 100
2000 (24620/17100) 143.97× 100
2001 (25820/17100) 150.99× 100
2002 (26720/17100) 156.25× 100
2003 (26720/17100) 156.25× 100
pf3

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Download Price Index Changes for Education, Housing, and Food from 1994 to 2003 and more Assignments Business Economics in PDF only on Docsity!

a.Taking 1994 as base year,the indices for education,

housing and food will be as follows: 1.For education, 2.For housing,

  • A1Q
  • 1994 (13740/13740) × Year Procedure Index
  • 1995 (15180/13740) × 100 110.
  • 1996 (16380/13740) × 100 119.
  • 1997 (17700/13740) × 100 128.
  • 1998 (18940/13740) × 100 137.
  • 1999 (20260/13740) × 100 147.
  • 2000 (22280/13740) × 100 162.
  • 2001 (24510/13740) × 100 178.
  • 2002 (29300/13740) × 100 213.
  • 2003 (32230/13740) × 100 234.
  • 1994 (17100/17100) × Year Procedure Index
  • 1995 (19100/17100) × 100 111.
  • 1996 (20500/17100) × 100 119.
  • 1997 (21920/17100) × 100 128.
  • 1998 (23520/17100) × 100 137.
  • 1999 (24620/17100) × 100 143.
  • 2000 (24620/17100) × 100 143.
  • 2001 (25820/17100) × 100 150.
  • 2002 (26720/17100) × 100 156.
  • 2003 (26720/17100) × 100 156.

3.For food,

Year Procedure Index

1994 (16600/16600) × 100 100

1995 (17600/16600) × 100 106.

1996 (20000/16600) × 100 120.

1997 (22500/16600) × 100 135.

1998 (24000/16600) × 100 144.

1999 (25200/16600) × 100 151.

2000 (26000/16600) × 100 156.

2001 (26600/16600) × 100 160.

2002 (26700/16600) × 100 160.

2003 (27600/16600) × 100 166.

b.For the period from 1994 to1995,the increase in terms

of percentage in the three items was,

In education expenses,

The increase=index of 1995 - index of 1994

In housing expenses,

The increase=index of 1995 - index of 1994

In food expenses,

The increase=index of 1995 - index of 1994

Hence, housing expenses increased the most from 1994

to 1995,by 11.69%.

For the period of 1994-2003,the increase in terms of

percentage in the three items was,