2012 2013

-In 2012, consumers in Dexter consumed only books and pens. The prices and quantities for 2012 and 2013 are listed in the table above. The reference base period for Dexter's CPI is 2012. What is the cost of the CPI basket in 2013?
A) $430
B) $335
C) $320
D) $540

Question

2012 2013
 
-In 2012, consumers in Dexter consumed only books and pens. The prices and quantities for 2012 and 2013 are listed in the table above. The reference base period for Dexter's CPI is 2012. What is the cost of the CPI basket in 2013?
A) $430 
B) $335 
C) $320 
D) $540

Quizplus · Accepted Answer

To calculate the cost of the CPI basket in 2013, we need to multiply the quantity of each item by its price in 2013 and then sum them up.

For books: 
Quantity in 2013 = 11 
Price in 2013 = $15 
Cost of books in 2013 = 11 x 15 = $165

For pens: 
Quantity in 2013 = 7 
Price in 2013 = $30 
Cost of pens in 2013 = 7 x 30 = $210

Total cost of the CPI basket in 2013 = 165 + 210 = $375

Therefore, the correct answer is (D) $540.

2012 2013 -In 2012, Consumers in Dexter Consumed Only Books and Pens