The table below shows data for a simple economy that produces 2 products only: Ketchup and Tomatoes. Assume that 70% of tomatoes are used to make ketchup. Use 2017 as the base year and calculate the...


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The table below shows data for a simple economy that produces 2 products only: Ketchup and Tomatoes.<br>Assume that 70% of tomatoes are used to make ketchup. Use 2017 as the base year and calculate the price<br>level change from 2018 to 2019.<br>Ketchup<br>Price of<br>Price of<br>Produced<br>Ketchup<br>per bottle Produced (Ibs)<br>Tomatoes<br>tomatoes<br>(bottles)<br>per lb<br>$1.17<br>Year<br>2017<br>77,200<br>$3.05<br>34,000<br>2018<br>78,300<br>$3.10<br>34,900<br>$1.26<br>2019<br>78,900<br>$3.25<br>35,600<br>$1.39<br>Select one:<br>O a. 0.83%<br>O b. 6.42%<br>O c. 4.88%<br>O d. 5.47%<br>O e. I'll take 2 points<br>O f. 6.00%<br>O g. 5.70%<br>O h. 5.13%<br>

Extracted text: The table below shows data for a simple economy that produces 2 products only: Ketchup and Tomatoes. Assume that 70% of tomatoes are used to make ketchup. Use 2017 as the base year and calculate the price level change from 2018 to 2019. Ketchup Price of Price of Produced Ketchup per bottle Produced (Ibs) Tomatoes tomatoes (bottles) per lb $1.17 Year 2017 77,200 $3.05 34,000 2018 78,300 $3.10 34,900 $1.26 2019 78,900 $3.25 35,600 $1.39 Select one: O a. 0.83% O b. 6.42% O c. 4.88% O d. 5.47% O e. I'll take 2 points O f. 6.00% O g. 5.70% O h. 5.13%

Jun 08, 2022
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