9708/13 Economics May Jun 2020 Online Test | Cambridge AS and A Level MCQ
Suppose the average consumer’s expenditure is divided between bread, meat, milk and vegetables in the ratio 4: 3: 2: 1.
During the course of a year, the price of bread falls by 10%, the price of meat increases by 20% and the prices of both milk and vegetables increase by 10%.
What is the increase in the average price level during the year?