Multiple Choice
Suppose a basket of goods and services has been selected to calculate the consumer price index (CPI) and 2002 has been selected as the base year.In 2002,the basket's cost was $600; in 2004,the basket's cost was $650; and in 2006,the basket's cost was $700.The value of the CPI in 2004 was (rounded to one decimal place)
A) 92.3.
B) 106.3.
C) 108.3.
D) 152.0.
E) more than 155.0.
Correct Answer:
Verified
Correct Answer:
Verified
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