-The Table Above Gives the CPI Basket for 2010

question 91

Essay

$$\begin{array} { | l | c | l | l | } \hline { \text { Item } } & { \begin{array} { c } \text { Quantity } \\( 2010 )\end{array} } & \begin{array} { c } \text { Price } \\( 2010 )\end{array} & \begin{array} { c } \text { Price } \\( 2011 )\end{array} \\\hline \text { Oranges } & 50 & \$ 0.90 & \$ 0.75 \\\hline \text { Bananas } & 100 & \$ 0.50 & \$ 0.95 \\\hline \text { Chicken } & 200 & \$ 2.00 & \$ 2.50 \\\hline \text { Beef } & 100 & \$ 5.00 & \$ 4.80 \\\hline \text { Bread } & 300 & \$ 1.75 & \$ 2.00 \\\hline\end{array}$$
-The table above gives the CPI basket for 2010. Suppose that 2010 is the reference base period.
a) What is the cost of the CPI basket in 2010?
b) What is the cost of the CPI basket in 2011?
c) What is the CPI for 2010?
d) What is the CPI for 2011?

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