Calculate the price index for two thousand

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Reference no: EM13209583

Given the following price information for a typical market basket of goods purchased by consumers and assume that 2000 is the base year: :
YEAR PRICE of market basket
2000 $5
2001 $4
2002 $8
2003 $9

1.Calculate the price index for 2000.
2.Calculate the price index for 2001.
3.Calculate the price index for 2002.
4.Calculate the price index for 2003.

Reference no: EM13209583

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