Economics 9708 · AS & A Level · National income statistics

National income statistics — practice question

In 2012, a survey of household expenditure chose X and Y to make up the basket of goods used for a price index. The index had a value of 100 in 2012. By 2013, its value had risen to 116. Over 2013, the prices of X and Y rose by 10% and 20%, respectively. What percentage weights were assigned to X and Y when the index was calculated?

  • Agood X: 25%; good Y: 75%
  • Bgood X: 40%; good Y: 60%
  • Cgood X: 50%; good Y: 50%
  • Dgood X: 70%; good Y: 30%

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