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University of Nairobi *

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5000

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Economics

Date

Nov 24, 2024

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1

Uploaded by BarristerAlpacaMaster698

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3. Working with Numbers and Graphs Q3 Consider the following hypothetical data, which are similar to those in Exhibit 1 in your textbook. Complete the following table by calcuiating both the current-year expenditures and the base-year expenditure, Current-Year Prices Current-Year Base-Year Prices Base-Year (Dollars) Expenditures (Dollars) Expenditures Market Basket (Dollars) (Dollars) 14 pens 1 | | 0.20 I J' S shirts 28 | | 7 | | 3 pairs of shoes 32 { l 10 | | On the basis of these prices, what is the Consumer Price Index (CPI) for the current year?
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