Hi,

I have a question about the nominal price index, consumer price index, and real price index, as shown in the attachment.

Moreover, I cannot distinguish these terms, so I would be grateful if you could help me with it.

Thank you.

The price of oranges per kilogram is given in the table below for several years, as is the corresponding CPI. 2000 2002 2004 2006 2008 2010 Nominal orange price $ 2.50 2.70 2.50 3.10 3.40 3.30 CPI 115 117 121 125 129 132 a) Compute a nominal price index for oranges using 2000 as the base period. Year Nominal Price Index 2000 100 2002 108 2004 100 2006 124 2008 136 2010 132 b) Recompute the CPI using 2000 as the base year. Year Consumer Price Index 2000 100 2002 102 2004 105 2006 109 2008 112 2010 113 c) Construct a real price index for oranges using your answers from a) and b). Year Real Price Index 2000 100 2002 106 2004 95 2006 105 2008 2010 0 SUBMIT AND MARK SAVE AND CLOSE Official Time: 11:23:06