If a Market Basket Was Defined in 2014 and It

question 171

Multiple Choice

If a market basket was defined in 2014 and it cost $10,000 to purchase the items in that basket in 2014, while it cost $12,000 to purchase those identical goods in 2015, then the price index for 2015 is

• A)100.
• B)(10000/12000)*100=83.33.
• C)(12000/10000)*100=120.
• D)unknown given this data.

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