The table below shows the average price of organic wheat as a price index.
| Year | Price Index (Base year 2018 = 100) |
|---|---|
| 2018 | 100 |
| 2019 | 112 |
| 2020 | 130 |
| 2021 | 117 |
| 2022 | 125 |
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%.
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.