AA d. base-year bias. e. none of the above. Use the following table to answer questions 7, 8, 9, 10, 11 and 12. The table shows the prices and the quantities consumed in Carnivore Country. Suppose the base year is 2014. Also, suppose that 2014 is the year the typical consumption basket was determined, so the quantities consumed in 2014 are the only quantities needed to calculate the CPI in each year. Year Price of Beef Quantity of Beef Price of Pork Qual 2014 $2.00 100 $1.00 100 2015 2.50 90 0.90 120 2016 2.75 105 1.00 130 7. What is the value of the basket in the base year? Answer + hulu d. $459.25 e. none of the above 8. What are the values of the CPI in 2014, 2015, and 2016, respectively? Answer a. 100, 111, 139.6 b. 100, 109.2, 116 c. 100, 113.3, 125 d. 83.5, 94.2, 100 e. none of the above 9. What is the inflation rate for 2015? Answer а. О регсent hulu hp

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Q: Consumer Price Index

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