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-The Market Basket Used to Calculate the CPI in Aquilonia

Question 74

Multiple Choice

  -The market basket used to calculate the CPI in Aquilonia is: four loaves of bread Six litres of milk, Two shirts, and Two pairs of pants. Last year, The price of bread was $1.00 per loaf, The price of milk was $1.50 per litre, The price of a shirt was $6.00, and The price of a pair of pants was $10.00. This year, The price of bread is $1.50 per loaf, The price of milk is $2.00 per litre, The price of a shirt is $7.50, and The price of a pair of pants is $13.00. What is the inflation rate, as measured by the CPI, for Aquilonia between last year and this year? A)  20.00 percent B)  24.4 percent C)  30.00 percent D)  35.56 percent
-The market basket used to calculate the CPI in Aquilonia is: four loaves of bread
Six litres of milk,
Two shirts, and
Two pairs of pants.
Last year,
The price of bread was $1.00 per loaf,
The price of milk was $1.50 per litre,
The price of a shirt was $6.00, and
The price of a pair of pants was $10.00.
This year,
The price of bread is $1.50 per loaf,
The price of milk is $2.00 per litre,
The price of a shirt is $7.50, and
The price of a pair of pants is $13.00.
What is the inflation rate, as measured by the CPI, for Aquilonia between last year and this year?


A) 20.00 percent
B) 24.4 percent
C) 30.00 percent
D) 35.56 percent

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