6 Table 6.3YearPrice of pens ($) Quantity ofpens (in units)Price of staplers Quantity ofstaplers (inunits)(S)2016150034020171.14907.534220181.154887.633820191.2470832020201.148510280Refer to table 6.3. The residents of Stationery World purchase pens andstaplers from the year 2016 to 2020. If the base year is 2018, what is theCPI for the year 2019? Round your final answer to 1 decimal place.

The consumer price index (CPI) is the instrument to quantify expansion. It is utilized to appraise…

Year Price of pens ($) Quantity of pens (in units) Price of staplers Quantity of staplers (in units) 340 (S) 2016 500 2017 1.1 490 7.5 342 2018 1.15 488 7.6 338 2019 2020 1.2 470 8. 320 1.1 485 10 280 Refer to table 6.3. The residents of Stationery World purchase pens and staplers from the year 2016 to 2020. If the base year is 2018, what is th CPI for the year 2019? Round your final answer to 1 decimal place.

Year Price of pens ($) Quantity of pens (in units) Price of staplers Quantity of staplers (in units) 340 (S) 2016 500 2017 1.1 490 7.5 342 2018 1.15 488 7.6 338 2019 2020 1.2 470 8. 320 1.1 485 10 280 Refer to table 6.3. The residents of Stationery World purchase pens and staplers from the year 2016 to 2020. If the base year is 2018, what is th CPI for the year 2019? Round your final answer to 1 decimal place.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter22: Inflation

Section: Chapter Questions

Problem 1SCQ: Table 22.4 shows the fruit prices that the typing college student purchased from 2001 to 2004. What...

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