Calculate the CPI basket and the percentage of the households budget spent on juice in 2020. The
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Calculate the CPI basket and the percentage of the household’s budget spent on juice in 2020.
The people on Coral Island buy only juice and cloth.
The CPI basket contains the quantities bought in 2020. The average household spent $60 on juice and $30 on cloth in 2020 when juice was $2 a bottle and cloth was $5 a yard. In 2021, juice is $4 a bottle and cloth is $6 a yard.
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