The monthly market basket for consumers consists of pizza, t-shirts, and rent.
The table below shows market basket quantities and prices for the base year (Year 1) and in the following year.
In Year 1, the CPI for the economy is _______
In Year 2, the CPI for this economy is _______
Cost of the market basket in year 1 = 20*3+3*15+1*500 = 605
CPI in year 1 = 100
Cost of the market basket in year 2 = 20*3.75+3*13.5+1*550 = 665.5
Cost of the market basket in base year price in year 2 = 20*3+3*15+1*500 = 605
CPI in year 2 = 665.5/605 = 110
The monthly market basket for consumers consists of pizza, t-shirts, and rent.
The monthly market basket for consumers consists of pizza, t-shirts, and rent. The table below shows market basket quantities and prices for the base year (Year 1) and in the following year. Base Year (Year 1) Quantity Price in Year 2 Product Pizza T-Shirts Rent Price in the Base Year $3.00 $20.00 $350.00 $3.75 $18.00 $385.00 In Year 1, the CPI for the economy is In Year 2, the CPI for this economy is (Round both answers to one decimal...
The monthly market basket for consumers consists of pizza, t-shirts, and rent. The table below shows market basket quantities and prices for the base year (Year 1) and in the following year. Product Base Year (Year 1) Quantity Price in the Base Year $2.50 $10.00 $400.00 Price in Year 2 $3.13 $9.00 Pizza T-Shirts Rent $140.00 (Round both answers to one decimal place.) In Year 1, the CPI for the economy is In Year 2, the CPI for this economy...
The monthly market basket for consumers consists of pizza, t-shirts, and rent The table below shows market basket quantities and prices for the base year (Year 1) and in the following year Base Year (Year 1) Quantity 20 Price in the Base Year Price in Year 2 Product Pizza T-Shirts Rent $3.50 $25.00 300.00 $4.38 $22.50 $330 00 n Year 1, the CPI for the economy is 5 (Round both answers to one decimal place) In Year 2, ne CPl...
The monthly market basket for consumers consists of pizza, t-shirts, and rent. The table below shows market basket quantities and prices for the base year (Year 1) and in the following two years. Base Year (Year 1) Quantity Product Pizza T-Shirts Rent Price in the Base Year .$3.50 $25.00 $350.00 Price in Year 2 $4.38 $22.50 $385.00 Price in Year 3 $4.73 $26.25 $455.00 The inflation rate between Year 1 and Year 2 is The inflation rate between Year 2...
The monthly market basket for consumers consists of pizza, t-shirts, and rent. The table below shows market basket quantities and prices for the base year (Year 1) and in the following two years. Product Base Year (Year 1) Quantity Pizza Price in the Base Year $2.50 $10.00 $300.00 Price in Year 2 $3.13 $9.00 $330.00 Price in Year 3 $3.38 $8.50 $390.00 T-Shirts Rent The inflation rate between Year 1 and Year 2 is The inflation rate between Year 2...
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