$$\begin{array} { c c c c }
\text { Item } & \begin{array} { c }
\text { Quantity } \
( 2009 )
\end{array} & \begin{array} { c }
\text { Price } \
( 2009 )
\end{array} & \begin{array} { c }
\text { Price } \
( 2010 )
\end{array} \
\hline \text { Salt } & 2 & \$ 1.00 & \$ 2.00 \
\text { Bread } & 20 & \$ 2.50 & \$ 3.00 \
\hline
\end{array}$$
-The data in the table above shows the consumption by families in a small (poor) economy.The families consume only salt and bread.The reference base period is 2009.The cost of the CPI market basket in 2009 is

Question

$$\begin{array} { c c c c } 
\text { Item } & \begin{array} { c } 
\text { Quantity } \
( 2009 )
\end{array} & \begin{array} { c } 
\text { Price } \
( 2009 )
\end{array} & \begin{array} { c } 
\text { Price } \
( 2010 )
\end{array} \
\hline \text { Salt } & 2 & \$ 1.00 & \$ 2.00 \
\text { Bread } & 20 & \$ 2.50 & \$ 3.00 \
\hline
\end{array}$$
-The data in the table above shows the consumption by families in a small (poor) economy.The families consume only salt and bread.The reference base period is 2009.The cost of the CPI market basket in 2009 is

Quizplus · Accepted Answer

To find the cost of the CPI market basket in 2009, we need to calculate the total cost of buying the quantities of salt and bread in 2009.

The cost of 2 units of salt in 2009 = $1.00/unit × 2 units = $2.00 
The cost of 20 units of bread in 2009 = $2.50/unit × 20 units = $50.00

Therefore, the total cost of the CPI market basket in 2009 = $2.00 + $50.00 = $52.00.

Note that we don't need to consider the prices in 2010, since we are only interested in the cost in 2009.

-The Data in the Table Above Shows the Consumption by }