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Suppose the Market Basket Consists of 400X,150Y,and 220Z

Question 16

Multiple Choice

Suppose the market basket consists of 400X,150Y,and 220Z.Current-year prices are $1.50 for each unit of X,$0.50 for each unit of Y,and $4.60 for each unit of Z.Base-year prices are $1.00 for each unit of X,Y,and Z.Approximately what is the value of the CPI in the current year?


A) 457
B) 354
C) 219
D) 119

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