Author Question: The CPI ProductQuantity (Year 1) Price(Year 1)Expenditure (Year 1) Price (Year 2)Expenditure (on ... (Read 59 times)

krabuske · **on:** Nov 23, 2022

Question 1

The CPI

Last year, monthly expenditures for a family of 4 averaged $2800. This year, the cost of the same purchases is $3300. If last year was the base year, the CPI for this year is ________. (Round to the nearest whole number.)
◦ 250
◦ 118
◦ 115
◦ 500

Question 2

The CPI

Product	Quantity (Year 1)	Price (Year 1)	Expenditure (Year 1)	Price (Year 2)	Expenditure (on base year quantities) (Year 2)
Cell Phones	3	$500	$1500	$650	$1950
Pizzas	15	19	285	11	165
Books	8	9	72	11	88
Total	blank	blank	1857	blank	2203

Suppose an economy has only three goods and the typical family purchases the amounts listed in the table. If Year 1 is the base year, then the CPI for Year 2 is ________. (Round to the nearest whole number.)
◦ 119
◦ 116
◦ 346
◦ 84

Hamad · **Reply #1 on:** Nov 23, 2022

A FREE account is required to view all solutions!

Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.

Answer Preview

Only 29% of students answer this correctly