Table 25-4 Will's expenditures on food for three consecutive years, along with other values, are presented in the following table. Year 1 2 3 Expenditures on food Consumer price index $5,000 $5,800 $6,600 160.0 168.0 X Refer to Table 25-4. Suppose the consumer price index is 15.5 percent higher in Year 3 than in Year 1. Then Will's food expenditures for Year 2 in Year 3 dollars amount to Oa. $6,426. Ob. $6,380. Oc.$6,352. Od. $6,651.

Table 25-4 Will's expenditures on food for three consecutive years, along with other values, are presented in the following table. Year 1 2 3 Expenditures on food Consumer price index $5,000 $5,800 $6,600 160.0 168.0 X Refer to Table 25-4. Suppose the consumer price index is 15.5 percent higher in Year 3 than in Year 1. Then Will's food expenditures for Year 2 in Year 3 dollars amount to Oa. $6,426. Ob. $6,380. Oc.$6,352. Od. $6,651.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations

Section: Chapter Questions

Problem 18P

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Table 25-4 Will's expenditures on food for three consecutive years, along with other values, are presented in the following table. Expenditures on food Consumer price index Oa. $6,426. Ob. $6,352. c. $6,651. O d. $6,380. Year 2 1 3 $5,000 $5,800 $6,600 160.0 168.0 X Refer to Table 25-4. Suppose the consumer price index is 15-5 percent higher in Year 3 than in Year 1. Then Will's food expenditures for Year 2 in Year 3 dollars amount to
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