(Table) the Associated Table Provides a Hypothetical Bundle of Goods

question 83

Multiple Choice

(Table) The associated table provides a hypothetical bundle of goods. If 2014 is selected as the base year, the value of the CPI in 2017 would be: $$\begin{array} { | l | c | c | c | c | c | c | } \hline \text { Product } & \mathbf { Q } _ { 2010 } & \mathbf { Q } _ { 2014 } & \mathbf { Q } _ { 2017 } & \mathbf { P } _ { 2010 } & \mathbf { P } _ { 2014 } & \mathbf { P } _ { 2017 } \\\hline \text { Apples (5-lb. bag) } & 10 & 11 & 12 & \$ 3.00 & \$ 4.00 & \$ 4.25 \\\hline \text { Coffee beans (1-lb. bag) } & 50 & 50 & 55 & \$ 8.00 & \$ 9.00 & \$ 10.00 \\\hline \text { Cereal (28-oz. box) } & 20 & 25 & 29 & \$ 3.50 & \$ 3.75 & \$ 3.75 \\\hline\end{array}$$

• A) 100.00.
• B) 108.98.
• C) 88.50.
• D) 105.00.

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Definitions:

Sundry Accounts Column

A column in financial records used for recording miscellaneous transactions that are not frequent or significant enough to warrant their own dedicated account.

Cash Receipts Journal

A dedicated financial journal that tracks all cash inflows to a business, detailing the source and amount of cash received.

Cash Sales

Transactions where payment is made in cash at the time of the sale.

Cash from Sale

The cash received from selling goods or services.