Question

The table below lists the prices from last year and the base year for a college-related basket of goods Basket of College Related Goods Price Base Year Price Last Year Basket of Goods (dollars) (dollars) Gasoline per gallon $1.90 $2.50 P1zza per pizza 7.95 Beer (per 6-pack 4.20 7.00 Textbook per book) 100.00 233.00 Instructions: In part a, enter your answers as a whole number. In ports and c, round your answers to 2 decimal places a. What is the total cost for a basket of goods that includes 200 gallons of gos, 60 pizzas, 45 6-packs, and 3 textbooks? TO In the base year: $ Last year. $1903 b. Using this basket of goods, compute the following CPI values: In the base year 1745 Last year: c. Assume that rather than buying textbooks for their courses last year, all students decided to buy online access cards at $100 per textbook. Compute the total cost for this basket of goods and the CPI. Total cost of basket: $ CPI:

Answer 1

pecin in basyear 200 Gasoline 1.90 4.20 Bey taxtbook 653 100.00 4.50 " Basket of good oty 45 Riga 2008 1.90+ 45%4.20+ 37100 t60x4.50 380+ 1897 900f 270 co - T=1,139] Lastgear: 200 x 2.50+ 45% 7.90 + 38 2 33..oot 60x7.95 500 + 3157 699 7 477 c1991 5) To Calculate the CPI én any year crest dendeed besket en yeeret with cost of 89 me market basket CPI ei Bese year = 1139 x 100 1139 -10 on

Now instead of buyery laxt boob Eladut bolight C. p E en camat gray 1991.100 | 13 7 174). Во 2 р с) online cartes, assess for & 100 lest year cest 2 х 280 + 60х7-2. 4х7 7.0+ ?> LA ) 6vo +477 318 +10 It / S72- Срг 16 why en x 1512- Лю | 13) - 12. 777 3 7 yo

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