-The table above gives the purchases of an average consumer in a small economy.(These consumers purchase only loaves of bread and jugs of soda.) Suppose 2008 is the reference base period.
a. What quantities are in the CPI market basket?
b. What is the cost of the CPI market basket using 2008 prices?
c. What is the cost of the CPI market basket using 2009 prices?
d. What is the CPI in 2009?
Definitions:
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