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 Will's Year 2 food expenditures in Year 3 dollars amount to $6,235. Then x, the consumer price index for Year 3, has a value of a. 171.2. b. 177.5. O c.175.0. Od. 180.6.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Question

economics

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 Will's Year 2 food expenditures in Year 3 dollars amount to $6,235. Then x, the consumer price index for Year 3, has a value of
a. 171.2.
b. 177.5.
O c.175.0.
Od. 180.6.
Transcribed Image Text: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 Will's Year 2 food expenditures in Year 3 dollars amount to $6,235. Then x, the consumer price index for Year 3, has a value of a. 171.2. b. 177.5. O c.175.0. Od. 180.6.
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