Question
In: Economics
The table below shows hypothetical data for the volume of gold and nickel output across several...
The table below shows hypothetical data for the volume of gold
and nickel output across several years.
Gold
(troy ounces) Index Nickel
(lbs) Index
Year 1 1 230 000 4500
Year 2 1 416 000 4551
Year 3 1 349 000 4623
Year 4 947 000 4791
Year 5 1 012 000 4802
Year 6 1 321 000 4867
Year 7 1 450 000 100 5002 100
Year 8 1 510 000 5117
TABLE 2-6
Refer to Table 2-6. What is the index number for nickel output
in Year 5?
Select one:
A.
96
B.
96%
C.
-200%
D.
0.96%
E.
-200
Solutions
Expert Solution
Ans. A. 96
Base year = 7 & Nickel value of year 7 = 5002 & Nickel value of year 5 = 4802
Index number for nickel output in year 5 = 
= 96
Rahul Sunny answered 2 years agoRelated Solutions
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