Table 20-10
-Refer to Table 20-10.Suppose an economy has only three goods and the typical family purchases the amounts given in the table above.If 2011 is the base year,then what is the CPI for 2016?
A) 14.3
B) 87.5
C) 114.3
D) 160
Correct Answer:
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Q167: The consumer price index implicitly assumes that
Q181: When the price of gasoline rises,some consumers
Q183: The formula for calculating the CPI is
A)(Expenditures
Q187: Most economists believe that biases cause changes
Q187: Monthly expenditures for a family of 4
Q192: If the CPI falls from 142 to
Q195: If the CPI rises from 206.7 to
Q197: The GDP deflator is the best measure
Q198: The inflation rate measures the average prices
Q200: What does the PPI measure?
A)the average change
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