Will's expenditures on food for three consecutive years, along with other values, are presented in the table below.Year200920102011Expenditures on Food$5,000$5,800$6,600Consumer Price Index160.0168.0Refer to Table above. Suppose Will's 2009 food expenditures in 2011 dollars amount to $5,750. Then x, the consumer price index for 2011, has a value ofSelect one:O a183.7Ob.185.8Oc.189.4d.187.5Clear my choice

Expenditure in 2010 = Expenditure in 2011*CPI in 2010/CPI in 2011 6235 = 6600*168/6235= 183.7…

Answered: 2009 2010 2011 ditures on Food $5.000…

ENGR.ECONOMIC ANALYSIS

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Chapter1: Making Economics Decisions

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2009 2010 2011 ditures on Food $5.000 $5.800 $6.600 mer Price Index 160.0 168.0 o Table above. Suppose Will's 2009 food expenditures in 2011 dollars amount to $5,750. Then x, the consumer price index for 2011, has a value of one: 183.7 185.8 189.4 1875