Use the following table, which lists output quantities and prices for the only three goods in the economy, to answer the next question. The base year is 2007. Hot Dogs Baseballs Bottles of Beer Year Price Quantity Price Quantity Price Quantity 2005 $2.00 100 $2.50 50 $1.00 100 2006 4.00 100 5.00 100 2.00 150 2007 5.00 100 5.00 100 2.00 200 2008 8.00 150 8.00 200 4.00 200 2009 10.00 200 10.00 200 4.00 250 The Consumer Price Index for the year 2009 is
Use the following table, which lists output quantities and prices for the only three goods in the economy, to answer the next question. The base year is 2007. Hot Dogs Baseballs Bottles of Beer Year Price Quantity Price Quantity Price Quantity 2005 $2.00 100 $2.50 50 $1.00 100 2006 4.00 100 5.00 100 2.00 150 2007 5.00 100 5.00 100 2.00 200 2008 8.00 150 8.00 200 4.00 200 2009 10.00 200 10.00 200 4.00 250 The Consumer Price Index for the year 2009 is
Chapter23: The Aggregate Expenditure Model
Section: Chapter Questions
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