Question

In 2013, the price for a market basket of consumer goods is $800. In the base year, the cost of the identical market basket was $1,000. The price index in this case is

Answer 1

The price index is 0.8

Step-by-step explanation:

Price index = price of consumer goods in 2013/price of consumer goods in the base year = $800/$1000 = 0.8