Calculate the CPI using the following data. Assume that there is one of each item in the
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Question:
Calculate the CPI using the following data. Assume that there is one of each item in the market basket.
Market basket Apples lb. Oranges lb. Bananas lb. Cereal box Milk gal.
Prices base yr. $ 0.45 $0.35 $0.20 $3.00 $2.40
Prices base yr.+1 $0.60 $0.30 $0.25 $3.20 $2.45
The value of the market basket in the base year is
The value of the market basket in the base year plus one is
The CPI in the base year is
The CPI in the base year plus one is
There has been inflation or deflation __________ of ____________ percent.
Related Book For
University Physics with Modern Physics
ISBN: 978-0321696861
13th edition
Authors: Hugh D. Young, Roger A. Freedman, A. Lewis Ford
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