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Table 6-3
in the Country of Shem, the CPI Is

Question 24

Multiple Choice

Table 6-3
In the country of Shem, the CPI is calculated using a market basket consisting of 5 apples, 4 loaves of bread, 3 robes, and 2 litres of gasoline. The per-unit prices of these goods have been as follows:
 Year  Apples  Bread  Rabes  Gasdline 2010$1.00$2.00$10.00$1.002011$1.00$1.50$9.00$1.502002$2.00$2.00$11.0042.002013$3.00430015.004.50\begin{array} { | l | l | l | l | l | } \hline \text { Year } & \text { Apples } & \text { Bread } & \text { Rabes } & \text { Gasdline } \\\hline 2010 & \mathbf { \$ 1 . 0 0 } & \mathbf { \$ 2 . 0 0 } & \mathbf { \$ 1 0 . 0 0 } & \mathbf { \$ 1 . 0 0 } \\\hline 2011 & \mathbf { \$ 1 . 0 0 } & \mathbf { \$ 1 . 5 0 } & \mathbf { \$ 9 . 0 0 } & \mathbf { \$ 1 . 5 0 } \\\hline 2002 & \mathbf { \$ 2 . 0 0 } & \mathbf { \$ 2 . 0 0 } & \mathbf { \$ 1 1 . 0 0 } & \mathbf { 4 2 . 0 0 } \\\hline 2013 & \mathbf { \$ 3 . 0 0 } & \mathbf { 4 3 0 0 } & \mathbf { 1 5 . 0 0 } & \mathbf { 4 } .50 \\\hline\end{array}
-Refer to the Table 6-3.What was the inflation rate,as measured by the CPI,between 2010 and 2011?


A) -8.89 percent
B) -7.14 percent
C) 3.75 percent
D) 11.25 percent

Correct Answer:

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