A-LevelEconomicsInflationMay/June 2015Paper 1 Q241 Mark
In 2012, a survey of household expenditure identified X and Y as the contents of a basket of goods for a price index. The value of the index in 2012 was 100. In 2013, the index was 116. During 2013, the prices of X and Y increased by 10% and 20%, respectively. In percentage terms, which weights were attached to X and Y in calculating the index? [Table 24.1]
A25
75
B40
60
C50
50
D70
30
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The correct answer is B. This question tests the candidate's understanding of inflation within the Economicssyllabus. The examiner's mark scheme requires...
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