c) Now, suppose the inflation from 2012 to 2013 was 11.2%. Given that the CPI for this 155.3 in 2012, find the CPI in 2013. Round to 2 decimal places. The CPI of the basket of goods in 2013 was 172.69. (d) Use your (rounded and correct) answer from part (c) to complete the following. The price of this market basket of recreational water equipment on Echo Island was $255 in 2009 (the base year). Then, the kot in 2013 was $ (round to the nearest cent).

c) Now, suppose the inflation from 2012 to 2013 was 11.2%. Given that the CPI for this 155.3 in 2012, find the CPI in 2013. Round to 2 decimal places. The CPI of the basket of goods in 2013 was 172.69. (d) Use your (rounded and correct) answer from part (c) to complete the following. The price of this market basket of recreational water equipment on Echo Island was $255 in 2009 (the base year). Then, the kot in 2013 was $ (round to the nearest cent).

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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