Essay
-The tables above give the purchases of an average consumer in a small economy. (These consumers purchase on loaves of bread and jugs of soda.) Suppose 2006 is the reference base period.
a) What quantities are in the CPI basket?
b) What is the cost of the CPI basket using 2006 prices?
c) What is the cost of the CPI basket using 2007 prices?
d) What is the CPI in 2007?
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a) The quantities in the CPI basket are ...View Answer
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