Question
Roberto is a senior citizen who consumes food and health care. When he retired in2002, he consumed 90 meals and 3 medical checkups per month.
Roberto is a senior citizen who consumes food and health care. When he retired in2002, he consumed 90 meals and 3 medical checkups per month. Suppose in 2002 that the price of a meal was $10 and the price of a medical checkup was $64. However, in2012, the price of a meal is $11 and the price of a medical checkup is $278. As aresult, Roberto consumes 100 meals and 2 medical checkups per month.
Calculate a Laspeyrescost-of-living index for Roberto using 100 as the base in 2002. Inparticular, the Laspeyres index for 2012 is
nothing
. (Enter your response rounded to two decimal places.)
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