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emlaai emlaai
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5 years ago

Suppose the index of prices received by farmers for 2012 was 1.70 and the base year of this index was 1996. Then



• relative to 1996, prices received by farmers were 70% lower in 2012.

• relative to 2012, prices received by farmers were 70% higher in 1996.

• relative to 1996, prices received by farmers were 70% higher in 2012.

• relative to 2012, prices received by farmers were 70% lower in 1996.
Textbook 
Introduction to Agricultural Economics

Introduction to Agricultural Economics


Edition: 7th
Authors:
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Kutthroat K.Kutthroat K.
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