Assume the CPI Basket is made of 100 gums and 10 bikes. The table below shows prices of both goods over three years. (round to the nearest 2 decimal points. show all work) 2019 (base) 2020 2021 Gums $1 $1 $2 Bikes $200 $240 $260 (a) Find CPI in 2020 (b) Find CPI in 2021 (c) Find inflation in 2020 (d) Find inflation in 2021 %24

Assume the CPI Basket is made of 100 gums and 10 bikes. The table below shows prices of both goods over three years. (round to the nearest 2 decimal points. show all work) 2019 (base) 2020 2021 Gums $1 $1 $2 Bikes $200 $240 $260 (a) Find CPI in 2020 (b) Find CPI in 2021 (c) Find inflation in 2020 (d) Find inflation in 2021 %24

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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