Table 1. 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 Price of hot Year hamburgers dogs 2020 $ 5.00 $ 3.00 2021 5.50 3.30 2022 5.61 3.63 Refer to table 1. If the base year is 2021, then the consumer price index is O 95.90 in 2020, 100 in 2021, and 107.44 in 2022 O 88.82 in 2020, 100 in 2021, and 107.44 in 2022 O 90.91 in 2020, 100 in 2021, and 106.36 in 2022 O 100 in 2020, 109 in 2021, and 115 in 202?

Table 1. 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 Price of hot Year hamburgers dogs 2020 $ 5.00 $ 3.00 2021 5.50 3.30 2022 5.61 3.63 Refer to table 1. If the base year is 2021, then the consumer price index is O 95.90 in 2020, 100 in 2021, and 107.44 in 2022 O 88.82 in 2020, 100 in 2021, and 107.44 in 2022 O 90.91 in 2020, 100 in 2021, and 106.36 in 2022 O 100 in 2020, 109 in 2021, and 115 in 202?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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