Question
INFLATION and GDP Use the following information represents hypothetical consumption scenarios in 2009 and 2019. Expenditure Behavior in 2009 Item Price Quantity per month Expenditure
INFLATION and GDP
Use the following information represents hypothetical consumption scenarios in 2009 and 2019.
Expenditure Behavior in 2009
Item | Price | Quantity per month | Expenditure per month |
Comics | $0.50 | 5 | $2.50 |
Chocolate Bars | $1.00 | 4 | $4.00 |
Popsicles | $0.15 | 10 | $1.50 |
TOTAL: $8.00
Expenditure Behavior in 2019
Item | Price | Quantity per month | Expenditure per month |
Comics | $0.65 | 5 | $3.25 |
Chocolate Bars | $1.20 | 4 | $4.80 |
Popsicles | $0.20 | 10 | $2.00 |
TOTAL: $10.05
Using 2009 as the base year, what is the value of the consumer price index in 2009? (answer format example: 150)
Answer:
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Capitalist Political Economy Thinkers And Theories
Authors: Heather Whiteside
1st Edition
0429888031, 9780429888038
