Suppose seafood price and quantity data for the years 2000 and2009 follow. Use 2000 as the base period.
| Seafood | 2000
Qty. (lb) | 2000
Price ($/lb) | 2009
Price ($/lb) |
|---|
| Halibut | 75,090 | 2.01 | 2.33 |
| Lobster | 83,280 | 3.62 | 3.09 |
| Tuna | 50,779 | 1.87 | 1.97 |
(a)
Compute the index number (price relative) for each type ofseafood. (Round your answers to one decimal place.)
| Seafood | Price Relative |
|---|
| Halibut | |
| Lobster | |
| Tuna | |
(b)
Compute a weighted aggregate price index for the seafood catch.(Round your answer to one decimal place.)
I2009 =
Comment on the change in seafood prices over the nine-yearperiod. (Enter your percentage as a positive value. Round youranswer to one decimal place.)
Seafood prices have  ---Select--- increased decreasedby  % over the 9-year period according to the index.
