Question: Please help with both questions. Thank you. question 1 2 pts If the CPI is 100 in the base year and 106 in the current

Please help with both questions. Thank you.

question 1 2 pts If the CPI is 100 in the base year and 106 in the current year, how much did prices rise between the base year and the current year? O 6 percent 106 percent 1.06 percent O 0.06 percent Question 2 2 pts Suppose the market basket consists of 100X, 200Y, and 300Z. Current-year prices are $5 for each unit of X, $2 for each unit of Y, and $3 for each unit of Z. Base-year prices are $2 for each unit of X, Y, and Z. What is the approximate CPI in the current year? O 15 70.20 1200 150
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
