Suppose a Basket of Goods and Services Has Been Selected

question 177

Multiple Choice

Suppose a basket of goods and services has been selected to calculate the CPI and 2012 has been selected as the base year.In 2012,the basket's cost was $50;in 2014,the basket's cost was $51;and in 2016,the basket's cost was $52.The value of the CPI in 2014 was

• A)98.0.
• B)102.0.
• C)104.0.
• D)151.0.

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