The table below shows the prices a household must pay for goods they purchase regularly. Year Price of Bread Price of Peanut Butter Price of Milk 1 $2.00 $3.50 $4.10 2 2.25 3.65 4.15 3 2.40 3.70 4.18 Suppose the yearly consumption of the household 60 loaves of bread, 97 jars of peanut butter, and 41 gallons of milk. What is CPI in year 3, using year 1 as a base year? Multiple Choice The CPI is 1.07. The CPI is 659.20. The CPI is 105.04. The CPI is 107.44
The table below shows the prices a household must pay for goods they purchase regularly. Year Price of Bread Price of Peanut Butter Price of Milk 1 $2.00 $3.50 $4.10 2 2.25 3.65 4.15 3 2.40 3.70 4.18 Suppose the yearly consumption of the household 60 loaves of bread, 97 jars of peanut butter, and 41 gallons of milk. What is CPI in year 3, using year 1 as a base year? Multiple Choice The CPI is 1.07. The CPI is 659.20. The CPI is 105.04. The CPI is 107.44
Chapter13: Inflation
Section: Chapter Questions
Problem 2SQP
Related questions
Question
The table below shows the prices a household must pay for goods they purchase regularly.
Year | Price of Bread | Price of Peanut Butter | Price of Milk |
---|---|---|---|
1 | $2.00 | $3.50 | $4.10 |
2 | 2.25 | 3.65 | 4.15 |
3 | 2.40 | 3.70 | 4.18 |
Suppose the yearly consumption of the household 60 loaves of bread, 97 jars of peanut butter, and 41 gallons of milk. What is CPI in year 3, using year 1 as a base year?
Multiple Choice
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The CPI is 659.20.
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The CPI is 105.04.
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The CPI is 107.44
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