In the Country of Shem, the CPI Is Calculated Using

question 136

Multiple Choice

In the country of Shem, the CPI is calculated using a market basket consisting of 5 apples, 4 loaves of bread, 3 robes and 2 gallons of gasoline. The per-unit prices of these goods have been as follows:
Table 24-3

-Refer to Table 24-3.Using 2002 as the base year,what was the inflation rate between 2004 and 2005?

• A)40.00 percent
• B)40.25 percent
• C)46.46 percent
• D)48.56 percent

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