Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Consider Table 1 above. Using 2017 as the base year, calculate the CPI for 2018. (round to two decimal places)
A) 100.00
B) 110.29
C) 124.21
D) 129.01
![Price per Unit
Year
Egg
Реach
Potato
$0.12
$0.34
$0.35
$0.41
2017
$0.05
2018
$0.14
$0.07
2019
$0.15
$0.08
2020
$0.17
$0.44
$0.11
2021
$0.24
$0.52
$0.14
Basket
250 Eggs
380 Peaches 510 Potatoes](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8aa77331-85b8-4afa-ba37-438054f1f360%2F16d550e7-4219-4327-9417-1677b876d4aa%2F64zx56m_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Price per Unit
Year
Egg
Реach
Potato
$0.12
$0.34
$0.35
$0.41
2017
$0.05
2018
$0.14
$0.07
2019
$0.15
$0.08
2020
$0.17
$0.44
$0.11
2021
$0.24
$0.52
$0.14
Basket
250 Eggs
380 Peaches 510 Potatoes
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