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:

Strength

The quality or state of being physically strong.

Negatively Correlated

A connection between two factors where as one factor rises, the other falls, and the reverse is also true.

Sets Of Scores

Groups or collections of numerical values, often used in statistics to represent data points from measurements or observations.

Decreases

A reduction or decline in value or quantity.