Year Price of a Price of a Shirt Hotdog 2009 $40 $3 2010 $45 $4 2011 $50 $3 1. If the base year is 2009, then the consumer price index was. in 2009, 2..in 2010, 3. in 2011. 2000 AL ntion rnto in 2 010 was nercent

Year Price of a Price of a Shirt Hotdog 2009 $40 $3 2010 $45 $4 2011 $50 $3 1. If the base year is 2009, then the consumer price index was. in 2009, 2..in 2010, 3. in 2011. 2000 AL ntion rnto in 2 010 was nercent

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

E. The table below pertains to Napandsnack, an economy in which the typical consumer's basket consists of 2 shirts
and 15 hotdogs.
Year
Price of a
Price of a
Shirt
Hotdog
2009 $40
$3
2010 $45
$4
2011
$50
$3
1. If the base year is 2009, then the consumer price index was
in 2009,
2.
in 2010,
3.
in 2011.
4. If the base year is 2009, then the economy's inflation rate in 2010 was
percent.

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