Question: What is the CPI in year 2011 using 2016 as the base year? Quantity in Product Price in 2011 Quantity in Price in 2016 2011

What is the CPI in year 2011 using 2016 as the base year?

What is the CPI in year 2011 using 2016 as the Quantity in Product Price in 2011 Quantity in Price in 2016 2011 2016 Water Bottles 100 $10 120 $12 Winter Hats 50 $15 45 $20 Baseball 200 $40 210 $45 Tickets A very simple economy produces three goods: water bottles, winter hats, and baseball tickets. The quantities produced and their corresponding prices for 2011 and 2016 are shown in the table above. Assume that the average urban family of four consumes 3 water bottles, 5 winter hats, and 10 baseball tickets

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