Practical Exercise - 5
Computation of Cost of Living index
1. Calculate cost of living index number using the method of weighted aggregates method and method of weighted average price relatives for the following data. By deflating money wage also find real wage, if average monthly income in 2004, 2006, 2007 are 10,000, 11,500 and 12,500.
2. From the following data calculate cost of living index number (i). By aggregate expenditure method (ii) By family budget enquiry method.
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