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:

Lead

A heavy metal element with the symbol Pb and atomic number 82, known for its density, malleability, and resistance to corrosion.

Calcium

A chemical element, symbol Ca, atomic number 20, a soft gray alkaline earth metal, essential for living organisms, primarily in bones and teeth.

Metalloids

Elements with properties in between metals and non-metals, such as silicon and germanium, often used in semiconductors.