Suppose a Basket of Goods and Services Has Been Selected

question 94

Multiple Choice

Suppose a basket of goods and services has been selected to calculate the CPI and 2014 has been selected as the base year.In 2012,the basket's cost was $50;in 2014,the basket's cost was $52;and in 2016,the basket's cost was $58.The value of the CPI in 2016 was

• A)106.0.
• B)104.0.
• C)111.5.
• D)116.0.

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Definitions:

Civil War

A conflict between citizens of the same country, often referring to the American Civil War from 1861 to 1865 between Northern states (Union) and Southern states (Confederacy) over issues including slavery and states' rights.

U.S. Government

The federal government of the United States, composed of three branches: executive, legislative, and judicial, established by the Constitution to govern the country.

Fair Contracts

are legally binding agreements that are made in good faith, characterized by equality, respect, and honesty between all parties involved.

Adequate Housing

Housing that satisfactorily meets basic living standards, including safety, affordability, and accessibility, as recognized by international human rights law.