A-LevelEconomicsMacroeconomic IndicatorsOct/Nov 2011Paper 1 Q241 Mark
The average consumer divides his expenditure between food, clothing, accommodation and transport in the ratio 2:1:4:3. During the course of a year, the price of food falls by 2%, the price of clothing increases by 4%, the price of accommodation increases by 10% and the price of transport remains constant. Assuming that the weights of a price index reflect the expenditure of the average consumer, what is the increase in the index over the year?
A2.5%
B4%
C10%
D12%
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The correct answer is B. This question tests the candidate's understanding of macroeconomic indicators within the Economicssyllabus. The examiner's mark scheme requires...
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