Consider an economy where the consumers buy widgets, cogs, and services. The CPI market basket consists of 123 widgets, 302 cogs, and 843 services. We have the following prices for 2021 and 2022: Year Widget Cost Cogs Cost Services Cost 2021 112.66 57.38 25.16 2022 149.93 69.14 39.97 If the base year is 2022, what is the price index for 2022? Round your answer to two digits after the decimal.
Consider an economy where the consumers buy widgets, cogs, and services. The CPI market basket consists of 123 widgets, 302 cogs, and 843 services. We have the following prices for 2021 and 2022: Year Widget Cost Cogs Cost Services Cost 2021 112.66 57.38 25.16 2022 149.93 69.14 39.97 If the base year is 2022, what is the price index for 2022? Round your answer to two digits after the decimal.
Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations
Section: Chapter Questions
Problem 17P
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Consider an economy where the consumers buy widgets, cogs, and services. The
Year | Widget Cost | Cogs Cost | Services Cost |
2021 | 112.66 | 57.38 | 25.16 |
2022 | 149.93 | 69.14 | 39.97 |
If the base year is 2022, what is the price index for 2022? Round your answer to two digits after the decimal.
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