Consider an economy with only two goods: bread and wine. In 1982, the typical family bought 4 loaves of bread at 50¢ per loaf and 2 bottles of wine for $9 per bottle. In Year X, bread cost 75¢ per loaf and wine cost $10 per bottle. The CPI for Year X (using a 1982 base year) is: Group of answer choices 100. 115 126 130
Consider an economy with only two goods: bread and wine. In 1982, the typical family bought 4 loaves of bread at 50¢ per loaf and 2 bottles of wine for $9 per bottle. In Year X, bread cost 75¢ per loaf and wine cost $10 per bottle. The CPI for Year X (using a 1982 base year) is: Group of answer choices 100. 115 126 130
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter7: Taking The Nation's Economic Pulse
Section: Chapter Questions
Problem 10CQ
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Question
Consider an economy with only two goods: bread and wine. In 1982, the typical family
bought 4 loaves of bread at 50¢ per loaf and 2 bottles of wine for $9 per bottle. In Year X,
bread cost 75¢ per loaf and wine cost $10 per bottle. The CPI for Year X (using a 1982 base
year) is:
bought 4 loaves of bread at 50¢ per loaf and 2 bottles of wine for $9 per bottle. In Year X,
bread cost 75¢ per loaf and wine cost $10 per bottle. The CPI for Year X (using a 1982 base
year) is:
Group of answer choices
100.
115
126
130
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