Self-Study Questions
| 1. | If you were to develop a price index for owning and operating a home computer, name at least three items that should be included in the market basket. |
| 2. | In the year 2000, the cost of a single-ride subway ticket on a metropolitan transit system was $1. That same ticket cost $1.50 in 2003. If 2000 is the reference date, what is the price index for that subway's single-ride tickets in 2003? |
| 3. | The metropolitan transit system also sold monthly travel passes that cost $60 in the year 2000. If the price of monthly passes followed the same price index as single-ride tickets (from the previous question), what would the price of a monthly pass be in 2003? |
| 4. | In 1996, the monthly cost of a certain cell phone plan was $45. In 2002, that ... |
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