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If a Market Basket Was Defined in 2014 and It

Question 22

Multiple Choice

If a market basket was defined in 2014 and it cost $10,000 to purchase the items in that basket in 2014, while it cost $11,000 to purchase those identical goods in 2015, then the price index for the base year is


A) 100.
B) (10000/11000) *100=90.9.
C) (11000/10000) *100=110.
D) none of these

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