(16.2%TransportationFood and drinksThe Components of the Consumer Price IndexSOURCE: U.S. Bureau of Labor StatisticsThe CPI is a measure of the cost of living for consumers. The government publishes monthly and annual figures on the Consumer Price Index.The Consumer Price Index has a base period, 1982-1984, from which to make comparisons. The CPI for the base period is 100. The CPI for October 2010 was 218.9. This means that $100 in theperiod 1982-1984 had the same purchasing power as $218.90 in October of 2010.An index number is actually a percent written without a percent sign. The CPI of 218.9 for October 2010 means that the average cost of consumer goods at that time was 218.9% of their cost in the1982-1984 period.The table below gives the CPI for various products in 2009.ProductCPIAll items214.5Food and beverages218.2Housing217.1Apparel120.1Transportation179.3Medical care375.6Recreation114.3Education and communication127.4The Consumer Price Index, 2009Watch the video below then answer the question.Consumer Price Index Solve the following.Of the items listed in the table above, are there any items that cost more than one-and-one-half times as much in 2009 as they cost during the base years, but less than twice as much as they costduring the base period? If so, which ones? (Select all that apply.)O food and beverageshousingappareltransportationmedical carerecreationO education and communicationnone of theseSubmit Answer

The measure that depicts the weighted average of prices of a basket of goods and services for…

Of the items listed in the table above, are there any items that cost more than one-and-one-half times as much in 2009 as they cost during the base years, but less than twice as much as they cost during the base period? If so, which ones? (Select all that apply.) O food and beverages O housing O apparel O transportation O medical care O recreation O education and communication O none of these

Of the items listed in the table above, are there any items that cost more than one-and-one-half times as much in 2009 as they cost during the base years, but less than twice as much as they cost during the base period? If so, which ones? (Select all that apply.) O food and beverages O housing O apparel O transportation O medical care O recreation O education and communication O none of these

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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