Solved

-The CPI Basket Contains 400 Oranges and 800 Pens

Question 308

Multiple Choice

-The CPI basket contains 400 oranges and 800 pens. In the base year, the price of an orange is $1.00 and the price of a pen is $0.75. This year, urban consumers each buy 300 oranges at $2.00 each and 850 pens at $1.00 each. The CPI this year is A) 1.60. B) 62.5. C) 160. D) 140.
-The CPI basket contains 400 oranges and 800 pens. In the base year, the price of an orange is $1.00 and the price of a pen is $0.75. This year, urban consumers each buy 300 oranges at $2.00 each and 850 pens at $1.00 each. The CPI this year is


A) 1.60.
B) 62.5.
C) 160.
D) 140.

Correct Answer:

verifed

Verified

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

Related Questions

Q303: Using the notation P<sub>t</sub> to designate this

Q304: An individual who has stopped looking for

Q305: The best example of a frictionally unemployed

Q306: When a student finishes college and begins

Q307: If the people who take early retirement

Q309: Including marginally attached workers in the calculation

Q310: When economists speak of full employment, they

Q311: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The above table

Q312: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -In 2016, consumers

Q313: The unemployment rate is 6 percent. If