Mathematics, 15.11.2019 20:31 aperson05
If a basket of goods and services used to calculate cpi contains 2 pairs of socks at $2 each and 1 pair of shoes at $50, what will the cpi for year 2 be if the 2 pairs of socks cost $2.05 and 1 pair of shoes costs $51?
a.
54.00
b.
55.10
c.
98.00
d.
102.04
Answers: 3
2= $4
CPI for year 1 = Price of shoes for 1st year + Price of Sock for 1st year= $50 + $4 = $54
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If a basket of goods and services used to calculate cpi contains 2 pairs of socks at $2 each and 1 p...
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