Table 11-6. The table below applies to an economy with only two goods - hamburgers and hot dogs. The fixed basket consists of 4 hamburgers and 8 hot dogs. $$\begin{array} { l c c }
\hline \text { Year } & \text { Priee of hamburegers } & \text { Prife of hat doges } \
\hline 2009 & \$ 5.00 & \$ 3.00 \
2010 & 5.50 & 3.30 \
2011 & 5.61 & 3.63 \
\hline
\end{array}$$
-Refer to Table 11-6. Between 2009 and 2011, the cost of living increased by

Question

Table 11-6. The table below applies to an economy with only two goods - hamburgers and hot dogs. The fixed basket consists of 4 hamburgers and 8 hot dogs. $$\begin{array} { l c c } 
\hline \text { Year } & \text { Priee of hamburegers } & \text { Prife of hat doges } \
\hline 2009 & \$ 5.00 & \$ 3.00 \
2010 & 5.50 & 3.30 \
2011 & 5.61 & 3.63 \
\hline
\end{array}$$
-Refer to Table 11-6. Between 2009 and 2011, the cost of living increased by

Quizplus · Accepted Answer

To find the percentage increase in the cost of living, calculate the cost of the basket in each year and compare. In 2009, the cost is (4 * $5.00) + (8 * $3.00) = $44. In 2011, the cost is (4 * $5.61) + (8 * $3.63) = $51.48. The percentage increase is (($51.48 - $44) / $44) * 100% = 17%.

Table 11-6 -Refer to Table 11-6