The table below shows the prices a household must pay for goods they purchase regularly. Year Price of Bread Price of Peanut Butter Price of Milk 1 $2.00 $3.50 $4.10 2 2.25 3.65 4.15 3 2.40 3.70 4.18 Suppose the yearly consumption of the household 50 loaves of bread, 84 jars of peanut butter, and 25 gallons of milk. What is CPI in year 2, using year 1 as a base year? Multiple Choice The CPI is 105.31. The CPI is 107.81. The CPI is 522.85. The CPI is 1.05

The table below shows the prices a household must pay for goods they purchase regularly. Year Price of Bread Price of Peanut Butter Price of Milk 1 $2.00 $3.50 $4.10 2 2.25 3.65 4.15 3 2.40 3.70 4.18 Suppose the yearly consumption of the household 50 loaves of bread, 84 jars of peanut butter, and 25 gallons of milk. What is CPI in year 2, using year 1 as a base year? Multiple Choice The CPI is 105.31. The CPI is 107.81. The CPI is 522.85. The CPI is 1.05

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter13: Inflation

Section: Chapter Questions

Problem 2SQP

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Question

The table below shows the prices a household must pay for goods they purchase regularly.

Year	Price of Bread	Price of Peanut Butter	Price of Milk
1	$2.00	$3.50	$4.10
2	2.25	3.65	4.15
3	2.40	3.70	4.18

Suppose the yearly consumption of the household 50 loaves of bread, 84 jars of peanut butter, and 25 gallons of milk. What is CPI in year 2, using year 1 as a base year?

Multiple Choice