A country reports the total expenditures on the fixed CPI basket for the past three years.The cost of the CPI basket in 2008 was $23,000, the cost of the CPI basket for the base period, 2009, was $23,805, and the cost of the CPI basket in 2010 was $24,500.The CPI for 2010 is

Question

Quizplus · Accepted Answer

CPI for 2010 = (Cost of CPI basket in 2010 / Cost of CPI basket in base period) * 100= (24,500 / 23,805) * 100= 102.9

A Country Reports the Total Expenditures on the Fixed CPI