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2.1 The measurement of macroeconomic performance

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Question 35

The table below shows the average price of organic wheat as a price index.

YearPrice Index (Base year 2018 = 100)
2018100
2019112
2020130
2021117
2022125

Which one of the following can be deduced from the data above?

The price of organic wheat rose continuously throughout the whole period 2018 to 2022.

Compared with 2022, the price of organic wheat was 20% cheaper in 2018.

Revenue from the sale of organic wheat fell in 2021.

Between 2020 and 2021, the price of organic wheat fell by 13%.

2.1 The measurement of macroeconomic performance Questions

  1. A Level
  2. /Economics
  3. /2.1 The measurement of macroeconomic performance