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A) What are the difficulties in the construction of the consumer price index? B) An enquiry into the budgets of middle class families in a certain city gave the following information: Expenses onFood FuelClothingRentOther30%10%20%15%20%Price in 2004 (Rs)1500250750300400Price in 1995 (Rs)1400200500200250 What is the cost of living index of 2004 as compared to 1995? |
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Answer» A) What are the difficulties in the construction of the consumer price index? B) An enquiry into the budgets of middle class families in a certain city gave the following information: Expenses onFood FuelClothingRentOther30%10%20%15%20%Price in 2004 (Rs)1500250750300400Price in 1995 (Rs)1400200500200250 What is the cost of living index of 2004 as compared to 1995? |
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