Table 11-12. Will's expenditures on food for three consecutive years, along with other values, are presented in the table below.
-Refer to Table 11-12. To the nearest dollar, Will's 2010 food expenditures in 2009 dollars amount to

Question

Table 11-12. Will's expenditures on food for three consecutive years, along with other values, are presented in the table below. 
-Refer to Table 11-12. To the nearest dollar, Will's 2010 food expenditures in 2009 dollars amount to

Quizplus · Accepted Answer

To find Will's 2010 food expenditures in 2009 dollars, we need to use the Consumer Price Index (CPI) for food. Using the table, we can find the CPI values for each year:

CPI food:
2009: 214.5
2010: 218.1
2011: 224.8

To convert 2010 expenditures to 2009 dollars, we need to multiply by the ratio of 2009 CPI to 2010 CPI:

2010 expenditures in 2009 dollars = 2010 expenditures * (2009 CPI / 2010 CPI)

= $5,524 * (214.5 / 218.1)

= $5,236

Therefore, the answer is (C) $5,524.