-The information in the table above gives the 2016 reference base period CPI basket and prices used to construct the CPI for a small nation. It also has the 2017 prices. What is the value of the CPI for the reference base period, 2016?
A) 140
B) 133
C) 100
D) 75

Question

-The information in the table above gives the 2016 reference base period CPI basket and prices used to construct the CPI for a small nation. It also has the 2017 prices. What is the value of the CPI for the reference base period, 2016?
A) 140 
B) 133 
C) 100 
D) 75

Quizplus · Accepted Answer

The Consumer Price Index (CPI) for the reference base period is always set to 100. This is a standard convention to facilitate comparison of price levels across different periods.

-The Information in the Table Above Gives the 2016 Reference