Table 6.2
The following table lists the basket of goods in the
Consumer Price Index for the nation of Astro (Assume 2010 is the base year.)

-Using the information in Table 6.2, the Astro Consumer Price Index for 2010 is
A) 24.
B) 100.
C) 124.
D) 189.

Question

Table 6.2
The following table lists the basket of goods in the
Consumer Price Index for the nation of Astro (Assume 2010 is the base year.)
 
-Using the information in Table 6.2, the Astro Consumer Price Index for 2010 is
A) 24. 
B) 100. 
C) 124. 
D) 189.

Quizplus · Accepted Answer

The Consumer Price Index for 2010 is calculated by taking the cost of the basket of goods in the current year and dividing it by the cost of the same basket of goods in the base year (2010) and multiplying by 100. Based on the table, the cost of the basket of goods in 2010 is $200. Therefore, the Astro Consumer Price Index for 2010 is (200/200) * 100 = 100.

Table 6.2 the Following Table Lists the Basket of Goods in the in the