Solved

Table 24-2
the Following Table Pertains to Wiskancia, an Economy

Question 131

Multiple Choice

Table 24-2
The following table pertains to Wiskancia, an economy in which the typical consumer's basket consists of 15 pounds of apples and 7 teddy bears.


 Year  Price of Apples  (Dollars per pound)   Price of Teddy bears  (Dollars per toy)  114721253159\begin{array} { | c | c | c | } \hline \text { Year } & \begin{array} { c } \text { Price of Apples } \\\text { (Dollars per pound) }\end{array} & \begin{array} { c } \text { Price of Teddy bears } \\\text { (Dollars per toy) }\end{array} \\\hline 1 & 14 & 7 \\\hline 2 & 12 & 5 \\\hline 3 & 15 & 9 \\\hline\end{array}
-Refer to Table 24-2. If the base year is Year 1, then the CPI in Year 3 was


A) 120.5.
B) -111.2.
C) 74.7.
D) 111.2.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions