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What is the cost of the cpi market basket

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Reference no: EM131344815

Problem -

The table it gives the CPI market basket for 2010 and 2011. Suppose that 2010 is the reference base period.

Item

Quantity (2010)

Price (2010)

Price (2011)

Oranges

50

$0.90

$0.75

Bananas

100

$0.50

$0.95

Chicken

200

$2.00

$2.50

Beef

100

$5.00

$4.80

Bread

300

$1.75

$2.00

a. What is the cost of the CPI market basket in 2010?

b. What is the cost of the CPI market basket in 2011?

c. What is the CPI for 2010?

d. What is the CPI for 2011?

Reference no: EM131344815

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