The consumer price index for Planet Econ consists of only two items: books and hamburgers. In 2000,
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The consumer price index for Planet Econ consists of only two items: books and hamburgers. In 2000, the base year, the typical consumer purchased 10 books for $25 each and 25 hamburgers for $2 each. In 2005, the typical consumer purchased 15 books for $30 each and 30 hamburgers for $3 each. The consumer price index for 2005 on Planet Econ equals:
A. | 1.00 |
B. | 1.15 |
C. | 1.25 |
D. | 1.45 |
Related Book For
Statistics Principles And Methods
ISBN: 9780470904114
7th Edition
Authors: Richard A. Johnson, Gouri K. Bhattacharyya
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