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The CPI ProductQuantity (Year 1) Price(Year 1)Expenditure (Year 1) Price (Year 2)Expenditure (on ...

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The CPI ProductQuantity (Year 1) Price(Year 1)Expenditure (Year 1) Price (Year 2)Expenditure (on ...

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

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

Read 41 times

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itpf04 Author

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Correct

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Thanks for your help!!

jmendoza

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Thank you, thank you, thank you!

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