The monthly market basket for consumers consists of pizza, t-shirts. and rent The table below shows market basket quantities and prices for the base year (Year 1) and in the following year Base Year (Year 1) Quantity 10 Price in the Base Year $2.50 Price in Product Year 2 Pizza $3.13 $15.00 $500 00 T-Shirts 2 $13 50 Rent 1 $550 00 In Year 1, the CPI for the economy is In Year 2, the CPI for this economy is (Round both answers to one decimal place.)

The monthly market basket for consumers consists of pizza, t-shirts. and rent The table below shows market basket quantities and prices for the base year (Year 1) and in the following year Base Year (Year 1) Quantity 10 Price in the Base Year $2.50 Price in Product Year 2 Pizza $3.13 $15.00 $500 00 T-Shirts 2 $13 50 Rent 1 $550 00 In Year 1, the CPI for the economy is In Year 2, the CPI for this economy is (Round both answers to one decimal place.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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K The monthly market basket for consumers consists of pizza, t-shirts, and rent. The table below shows market basket quantities and prices for the base year (Year 1) and in the following year. Product Pizza Base Year (Year 1) Quantity Price in the Price in Base Year Year 2 20 $2.50 $3.13 T-Shirts 4 $10.00 $9.00 Rent 1 $450.00 $495.00 In Year 1, the CPI for the economy is (Round both answers to one decimal place.) In Year 2, the CPI for this economy is
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