O-LevelEconomicsGovernment and the macroeconomy2281/11 · May/June 2013 · Q321 Mark
A price index is used to compare retail prices from one year to another. In 2001 the retail price of a litre of oil was $0.50. Using 2001 as a base year (index 100), for which year was the oil price index 140?
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A2003
B2005
C2007
D2009
✓ Correct answer
B: 2005
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