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Author Question: The CPI ProductQuantity (Year 1) Price(Year 1)Expenditure (Year 1) Price (Year 2)Expenditure (on ... (Read 85 times)

krabuske

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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 Phones3​$500​$1500​$650​$1950​
Pizzas15​19​285​11​165​
Books8​9​72​11​88​
Totalblankblank1857​blank2203​


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
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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Marked as best answer by krabuske on Nov 23, 2022

Hamad

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Reply #1 on: Nov 23, 2022
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krabuske

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Reply 2 on: Nov 23, 2022
Wow, this really help

Mochi

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Reply 3 on: Yesterday
Excellent

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