1. Consider Table 15.1 but suppose that the market basket is composed of 100 oranges, 50 grapefruit,...

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1. Consider Table 15.1 but suppose that the market basket is composed of 100 oranges, 50 grapefruit, and 200 lemons. How does this change the pre-frost and post -frost consumer price indexes? Explain. Generalize your answer to explain how the construction of the market basket affects the CPI.

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Krugmans Economics For Ap

ISBN: 9781429218276

2nd Edition

Authors: Margaret Ray, David A. Anderson

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