A Consumer Expenditure Survey in Sparts shows that people buy only juice and cloth In 2016, the year of the Consumer Expenditure Survey and also the reference base year, the average household spent $40 on juice and $25 on cloth The table sets out the prices of juice and cloth in 2018 and 2019 Calculate the CPI market basket and the percentage of the average household budget spent on juice in the reference base year The CPI market basket is [ The percentage of the household budget spent on juice in the reference base year is percent Anewer to 1 decimal place Prices Juice Cloth 2018 54 abo $5 a yard 2019 $7 a bote $8 a yard
A Consumer Expenditure Survey in Sparts shows that people buy only juice and cloth In 2016, the year of the Consumer Expenditure Survey and also the reference base year, the average household spent $40 on juice and $25 on cloth The table sets out the prices of juice and cloth in 2018 and 2019 Calculate the CPI market basket and the percentage of the average household budget spent on juice in the reference base year The CPI market basket is [ The percentage of the household budget spent on juice in the reference base year is percent Anewer to 1 decimal place Prices Juice Cloth 2018 54 abo $5 a yard 2019 $7 a bote $8 a yard
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter16: Measuring The Cost Of Living
Section: Chapter Questions
Problem 3CQQ
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