Refer to Table 11-6. Table 11-6. The table below applies to an economy with only two goods- hamburgers and hot dogs. The fixed basket consists of 4 hamburgers and 8 hot dogs. Price of hamburgers $5.00 5.50 5.61 Year 2009 2010 2011 If the base year is 2009, then the consumer price index is O a. 100 in 2009, 109 in 2010, and 115 in 2011. b. 100 in 2009, 110 in 2010, and 117 in 2011. c. 110 in 2009, 121 in 2010, and 128.26 in 2011. d. 44 in 2009, 48.4 in 2010, and 51.48 in 2011. Price of hot dogs $3.00 3.30 3.63

Refer to Table 11-6. Table 11-6. The table below applies to an economy with only two goods- hamburgers and hot dogs. The fixed basket consists of 4 hamburgers and 8 hot dogs. Price of hamburgers $5.00 5.50 5.61 Year 2009 2010 2011 If the base year is 2009, then the consumer price index is O a. 100 in 2009, 109 in 2010, and 115 in 2011. b. 100 in 2009, 110 in 2010, and 117 in 2011. c. 110 in 2009, 121 in 2010, and 128.26 in 2011. d. 44 in 2009, 48.4 in 2010, and 51.48 in 2011. Price of hot dogs $3.00 3.30 3.63

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Refer to Table 11-6.
Table 11-6. The table below applies to an economy with
only two goods- hamburgers and hot dogs. The fixed
basket consists of 4 hamburgers and 8 hot dogs.
Price of hamburgers
$5.00
5.50
5.61
Year
2009
2010
2011
If the base year is 2009, then the consumer price index is
O a. 100 in 2009, 109 in 2010, and 115 in 2011.
b. 100 in 2009, 110 in 2010, and 117 in 2011.
c. 110 in 2009, 121 in 2010, and 128.26 in 2011.
d. 44 in 2009, 48.4 in 2010, and 51.48 in 2011.
Price of hot dogs
$3.00
3.30
3.63

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