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ECON MACRO

5th Edition
William A. McEachern
Publisher: Cengage Learning
ISBN: 9781337000529
BuyFind

ECON MACRO

5th Edition
William A. McEachern
Publisher: Cengage Learning
ISBN: 9781337000529

Solutions

Chapter
Section
Chapter 6, Problem 4.8P
Textbook Problem

(Consumer Price Index) Calculate a new consumer price index for the data in the following exhibit. Assume that current year prices of Twinkles, fuel Oil, and cable TV are $0.95/package, $1.25/gallon, and $15.00/month, respectively. Calculate the current year's cost of the market basket and the value of the current year's price index. What is this year's percentage change in the price level compared to the base year?

Chapter 6, Problem 4.8P, (Consumer Price Index) Calculate a new consumer price index for the data in the following exhibit.

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