Please calculate CPI and inflation using the following basket of goods (round outlays (for calculations] and all other answers to the second decimal place when necessary) Goods Average Qty Avg. Price 2021 Clothing 15 $200 Cell Phone Plan 11 $75 Housing 10 $1,250 Milk 30 $3 Streaming Services 22 $19 Vehicle Payments 10 $450 BASE YEAR OUTLAY - $14,000.00 2020 CPI = 147 What is the 2021 CPI? What was the inflation rate from 2020 to 2021?
Please calculate CPI and inflation using the following basket of goods (round outlays (for calculations] and all other answers to the second decimal place when necessary) Goods Average Qty Avg. Price 2021 Clothing 15 $200 Cell Phone Plan 11 $75 Housing 10 $1,250 Milk 30 $3 Streaming Services 22 $19 Vehicle Payments 10 $450 BASE YEAR OUTLAY - $14,000.00 2020 CPI = 147 What is the 2021 CPI? What was the inflation rate from 2020 to 2021?
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter6: Measuring The Cost Of Living
Section: Chapter Questions
Problem 6PA
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