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

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter6: Tracking The U.s. Economy

Section: Chapter Questions

Problem 4.8P

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