The table below shows the average nominal price of lithium hydroxide, a key input for electric vehicle batteries, represented as a price index.
| Year | Price Index (Base year 2019 = 100) |
|---|---|
| 2019 | 100 |
| 2020 | 125 |
| 2021 | 150 |
| 2022 | 135 |
| 2023 | 160 |
Which one of the following can be deduced from the data above?
The price of lithium hydroxide rose continuously throughout the entire period 2019 to 2023.
Total industry sales revenue from lithium hydroxide decreased in 2022.
Between 2021 and 2022, the price of lithium hydroxide fell by 15%.
Compared with 2023, the price of lithium hydroxide was 37.5% cheaper in 2019.
187 exam-style questions on AQA A Level Economics 2.1 The measurement of macroeconomic performance, covering 2.1.1 The objectives of government economic policy, 2.1.2 Macroeconomic indicators, 2.1.3 Uses of index numbers, and 2.1.4 Uses of national income data (A-level only). Each one has a worked solution and a mark scheme showing where the marks go.