Suppose that the CPI basket consists of 5 pizzas and 3 bottles of soda. Further, consider the following price information for pizza and soda between 2013 and 2015: Year Pizza Soda 2013 $10.25 $1.25 2014 $10.50 $1.50 2015 $11.00 $2.00 Determine the missing values in the table below (set the base year equal to 2014): CPI Index Year 2013 [Select] 2014 [Select] 2015 [Select] CPI Basket [Select] 100 [Select]

Economics:
10th Edition
ISBN:9781285859460
Author:BOYES, William
Publisher:BOYES, William
Chapter5: National Income Accounting
Section: Chapter Questions
Problem 6E
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Suppose that the CPI basket consists of 5 pizzas and 3 bottles of soda. Further, consider the
following price information for pizza and soda between 2013 and 2015:
Year Pizza Soda
2013 $10.25 $1.25
2014 $10.50 $1.50
2015 $11.00 $2.00
Determine the missing values in the table below (set the base year equal to 2014):
CPI
Index
Year
2013 [Select]
2014 [Select]
2015 [Select]
CPI
Basket
[Select]
100
[Select]
Transcribed Image Text:Suppose that the CPI basket consists of 5 pizzas and 3 bottles of soda. Further, consider the following price information for pizza and soda between 2013 and 2015: Year Pizza Soda 2013 $10.25 $1.25 2014 $10.50 $1.50 2015 $11.00 $2.00 Determine the missing values in the table below (set the base year equal to 2014): CPI Index Year 2013 [Select] 2014 [Select] 2015 [Select] CPI Basket [Select] 100 [Select]
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