The consumer price index (CPI) is a fixed-weight index. It compares the price of a fixed bundle of goods in one year with the price of the same bundle of goods in some base year. Calculate the price of a bundle containing 150 units of food, 40 units of utilities, 200 units of unexpected expenses, and 30 units of leisure activities in 2015, 2016, 2017, and 2018. Year 2015 is the base year. Prices of these goods for the years 2015, 2016, 2017, and 2018 are given below. Food Utilities Good Unexpected expenses Leisure activities Quantity Consumed 150 40 200 30 Using the information above, calculate the following: The price of the bundle in 2015 is HKS 2015 Prices 2016 Prices HK$80 45 32 76 HK$86 62 38 81 (Round your response to the nearest dollar.) 2017 Prices HK$92 64 42 78 2018 Prices HK$96 66 54 74 VIDE AHT 10
The consumer price index (CPI) is a fixed-weight index. It compares the price of a fixed bundle of goods in one year with the price of the same bundle of goods in some base year. Calculate the price of a bundle containing 150 units of food, 40 units of utilities, 200 units of unexpected expenses, and 30 units of leisure activities in 2015, 2016, 2017, and 2018. Year 2015 is the base year. Prices of these goods for the years 2015, 2016, 2017, and 2018 are given below. Food Utilities Good Unexpected expenses Leisure activities Quantity Consumed 150 40 200 30 Using the information above, calculate the following: The price of the bundle in 2015 is HKS 2015 Prices 2016 Prices HK$80 45 32 76 HK$86 62 38 81 (Round your response to the nearest dollar.) 2017 Prices HK$92 64 42 78 2018 Prices HK$96 66 54 74 VIDE AHT 10
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter16: Measuring The Cost Of Living
Section: Chapter Questions
Problem 3CQQ
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