-The Tables Above Give the Purchases of a Typical Consumer

question 137

Essay

$$\begin{array} { | l | c | c | } \hline { \text { Item } } & \begin{array} { c } \text { Quantity } \\( 2012 )\end{array} & \begin{array} { c } \text { Price } \\( 2012 )\end{array} \\\hline \text { Meals } & 100 & \$ 10.00 \\\hline \text { Parking } & 50 & \$ 100.00 \\\hline\end{array}$$
$$\begin{array} { | l | c | c | } \hline { \text { Item } } & \begin{array} { c } \text { Quantity } \\( 2013 )\end{array} & \begin{array} { c } \text { Price } \\( 2013 )\end{array} \\\hline \text { Meals } & 100 & \$ 12.00 \\\hline \text { Parking } & 50 & \$ 97.50 \\\hline\end{array}$$
-The tables above give the purchases of a typical consumer in a country comprised of one large city.These consumers purchase only restaurant meals and parking.The year 2012 is the reference base period.
a) Find the total cost of the CPI basket for 2012 and 2013.
b) What is the CPI in 2012 and in 2013?
c) What is the inflation rate between 2012 and 2013?

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