The table below shows the prices a household must pay for goods they purchase regularly. Year Price of Bread Price of Peanut Butter Price of Milk 1 $2.00 $3.50 $4.10 2 2.25 3.65 4.15 3 2.40 3.70 4.18 Suppose the yearly consumption of the household 60 loaves of bread, 97 jars of peanut butter, and 41 gallons of milk. What is CPI in year 3, using year 1 as a base year? Multiple Choice The CPI is 1.07. The CPI is 659.20. The CPI is 105.04. The CPI is 107.44

The table below shows the prices a household must pay for goods they purchase regularly. Year Price of Bread Price of Peanut Butter Price of Milk 1 $2.00 $3.50 $4.10 2 2.25 3.65 4.15 3 2.40 3.70 4.18 Suppose the yearly consumption of the household 60 loaves of bread, 97 jars of peanut butter, and 41 gallons of milk. What is CPI in year 3, using year 1 as a base year? Multiple Choice The CPI is 1.07. The CPI is 659.20. The CPI is 105.04. The CPI is 107.44

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Year	Price of Bread	Price of Peanut Butter	Price of Milk
1	$2.00	$3.50	$4.10
2	2.25	3.65	4.15
3	2.40	3.70	4.18

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