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Which of the following formulas best defines the formula used to calculate a Price Index number?
Price of market basket year divided by highest marginal tax rate.
Price of market basket in a specific year divided by the price of same market basket in base year times 100.
Price of market basket divided by price of most expensive good from the basket multiplied by 100.
Price of basket in base year divided by price of basket in a specific year times 100.
Price index for specific year divided by 100.