The CPI for 2015 is computed as 100 times the ratio of the price of the market basket in 2015 divided by the price of the market basket in the base year.

Name: The CPI for 2015 is computed as 100 times the ratio of the price of the market basket in 2015 divided by the price of the market basket in the base year.
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Question

Quizplus · Accepted Answer

This is the correct formula for computing CPI, as it measures the change in the cost of living over time by comparing the prices of a fixed basket of goods and services in different years.

The CPI for 2015 Is Computed as 100 Times the Ratio