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IB Economics HL 3.3.5 Weighted price index Question Bank

Practise IB Economics HL 3.3.5 by applying weighted price index concepts to exam-style questions.

Syllabus
First assessment 2022
Course
Economics HL
Level
HL

Exam points

  • identify the relevant model, concept or evidence
  • apply the correct subject framework to the question
  • evaluate the result using clear evidence and subject terminology

3.3.5 (HL)—Weighted price index question 1

[Maximum number: 3]

The following information provides a simplified version of the calculation of a consumer price index (CPI).

In Country A, the rate of inflation is measured by the calculation of a CPI. The index is calculated using the five products which are purchased by citizens of Country A as representative of a "typical basket of goods".

The weighting given to each product is based on the quantities of each product purchased by the average household in Country A per week.

Table 1

Table 1

Assume that 2015 is the base year for the purpose of calculating the CPI.

Calculate the consumer price index (CPI) for Country A in 2016.

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