$$\begin{array} { | l | c | c | c | c | }
\hline \text { Item } & \begin{array} { c }
\text { Quantity } \
( 2009 )
\end{array} & \text { Price (2009) } & \begin{array} { c }
\text { Quantity } \
( 2010 )
\end{array} & \text { Price (2010) } \
\hline \text { Magazines } & 400 & \$ 5.00 & 450 & \$ 4.50 \
\hline \text { Movie tickets } & 50 & \$ 6.00 & 200 & \$ 8.00 \
\hline \text { Pizzas } & 100 & \$ 10.00 & 120 & \$ 10.50 \
\hline
\end{array}$$
The data in the table above shows the consumption by families in an economy.The year 2009 is the reference base period.
-Based on the table above, the CPI for 2009 is

Question

$$\begin{array} { | l | c | c | c | c | } 
\hline \text { Item } & \begin{array} { c } 
\text { Quantity } \
( 2009 )
\end{array} & \text { Price (2009) } & \begin{array} { c } 
\text { Quantity } \
( 2010 )
\end{array} & \text { Price (2010) } \
\hline \text { Magazines } & 400 & \$ 5.00 & 450 & \$ 4.50 \
\hline \text { Movie tickets } & 50 & \$ 6.00 & 200 & \$ 8.00 \
\hline \text { Pizzas } & 100 & \$ 10.00 & 120 & \$ 10.50 \
\hline
\end{array}$$ 
The data in the table above shows the consumption by families in an economy.The year 2009 is the reference base period.
-Based on the table above, the CPI for 2009 is

Quizplus · Accepted Answer

To calculate the CPI for 2009, we need to find the cost of the basket of goods in 2009 and 2010. The basket of goods is the set of goods and services that the average household consumes. In this case, the basket of goods consists of magazines, movie tickets, and pizzas.

Using the given quantities and prices, we can calculate the cost of the basket of goods in 2009 and 2010 as follows:

Cost of the basket in 2009 = (400 x $5.00) + (50 x $6.00) + (100 x $10.00) = $2,800
Cost of the basket in 2010 = (450 x $4.50) + (200 x $8.00) + (120 x $10.50) = $5,055

Now, we can use the formula for the CPI to calculate the index for 2009:

CPI(2009) = (Cost of the basket in 2009 / Cost of the basket in 2009) x 100

CPI(2009) = ($2,800 / $2,800) x 100 = 100

Therefore, the CPI for 2009 is 100, which means that the cost of the basket of goods did not change from 2009 to 2010.

The Data in the Table Above Shows the Consumption by |