Economics Statistics

Part B Index Numbers (12 marks) The table below lists CPI of a particular country. a) b) c) d) m _ _ _ _ _ Find CPI for 2005, using Base year 2010. [2 marks] What is the point percentage change in CPI from 2005 to 2006 using base year = 2000. [2 marks] What is the percentage Change in CPI from 2005 to 2006 using base year = 2000. [2 marks] If Nominal GDP for 2011 is $7 Billion, what will be Rea] GDP for 2011 with 2010 constant prices? [2 marks] Discuss how Weighted Agregate Price Index (WAPI) method is better than Simple Agregate Price Index method. [2 marks] Discuss when Fisher price index (F'PI) provides an accurate measure of changes in price level. [2 marks]