n 2019 and in 2020, consumers in Dexter purchased only books and pens. The prices and quantities for 2019 and 2020 are listed in the table. The reference base period for Dexter's CPI is 2019 and 2019 is also the year of the Consumer Expenditure Survey. Calculate the CPI in 2020. 2019 2020 Item Price Quantity Price Quantity Books $2 4 $6 8 Pens $8 4 $10 9 The CPI in 2020 is _______. A. 62.5 B. 100.0 C. 160.0 D. 64.
n 2019 and in 2020, consumers in Dexter purchased only books and pens. The prices and quantities for 2019 and 2020 are listed in the table. The reference base period for Dexter's CPI is 2019 and 2019 is also the year of the Consumer Expenditure Survey. Calculate the CPI in 2020. 2019 2020 Item Price Quantity Price Quantity Books $2 4 $6 8 Pens $8 4 $10 9 The CPI in 2020 is _______. A. 62.5 B. 100.0 C. 160.0 D. 64.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
In 2019 and in 2020, consumers in Dexter purchased only books and pens.
The prices and quantities for 2019 and 2020 are listed in the table.
The reference base period for Dexter's CPI is 2019 and 2019 is also the year of the Consumer Expenditure Survey.
Calculate the CPI in 2020.
|
2019
|
2020
|
||
Item
|
|
Quantity
|
Price
|
Quantity
|
Books
|
$2
|
4
|
$6
|
8
|
Pens
|
$8
|
4
|
$10
|
9
|
The CPI in 2020 is _______.
62.5
100.0
160.0
64.
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