Use the table below to answer the following questions.
Table 21.3.1
Suppose a simple economy produces three goods only.
The price and output data for some selected years are shown below.

-Refer to Table 21.3.1. The reference base period is 2014. The CPI in 2014 is
A)100.
B)157.
C)129.
D)64.
E)153.

Question

Use the table below to answer the following questions.
Table 21.3.1
Suppose a simple economy produces three goods only.
The price and output data for some selected years are shown below.
 
-Refer to Table 21.3.1. The reference base period is 2014. The CPI in 2014 is
A)100. 
B)157. 
C)129. 
D)64. 
E)153.

Quizplus · Accepted Answer

The CPI in the reference base period (2014) is always set as 100.

Use the Table Below to Answer the Following Questions