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-The Table Above Gives the CPI Market Basket for 2008

question 116

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 Item  Quantity (2008) Price (2008) Price (2009) Oranges 50$0.90$0.75 Bananas 100$0.50$0.95 Chicken 200$2.00$2.50 Beef 100$5.00$4.80 Bread 300$1.75$2.00\begin{array} { l c c c } { \text { Item } } & \begin{array} { c } \text { Quantity } \\( 2008 )\end{array} & \begin{array} { c } \text { Price } \\( 2008 )\end{array} & \begin{array} { c } \text { Price } \\( 2009 )\end{array} \\\hline \text { Oranges } & 50 & \$ 0.90 & \$ 0.75 \\\text { Bananas } & 100 & \$ 0.50 & \$ 0.95 \\\text { Chicken } & 200 & \$ 2.00 & \$ 2.50 \\\text { Beef } & 100 & \$ 5.00 & \$ 4.80 \\\text { Bread } & 300 & \$ 1.75 & \$ 2.00 \\\hline\end{array}
-The table above gives the CPI market basket for 2008 and 2009.Suppose that 2008 is the reference base period.
a. What is the cost of the CPI market basket in 2008?
b. What is the cost of the CPI market basket in 2009?
c. What is the CPI for 2008?
d. What is the CPI for 2009?

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