Suppose a Basket of Goods and Services Has Been Selected

question 117

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 2013,the basket's cost was $80;in 2014,the basket's cost was $86;and in 2015,the basket's cost was $90.The value of the CPI in 2015 was

• A)112.5 and the inflation rate was 12.5%.
• B)112.5 and the inflation rate was 4.6%.
• C)104.6 and the inflation rate was 4.6%.
• D)104.6 and the inflation rate was 12.5%.

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