Multiple Choice
Assume that apples cost $0.50 in 2002 and $1 in 2009, whereas oranges cost $1 in 2002 and $0.50 in 2009. If 10 apples and 5 oranges were purchased in 2002, and 5 apples and 10 oranges were purchased in 2009, the CPI for 2009, using 2002 as the base year, is:
A) 0.75.
B) 0.80.
C) 1.
D) 1.25.
Correct Answer:
Verified
Correct Answer:
Verified
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