Suppose That the Total Expenditures for a Typical Household in 2015

question 49

Multiple Choice

Suppose that the total expenditures for a typical household in 2015 equaled $5,500 per month, while the cost of purchasing exactly the same items in 2017 was $6,875. If 2015 is the base year, the CPI for the year 2017 equals:

• A)0.80
• B)1.00
• C)1.20
• D)1.25

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