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Suppose a basket of goods and services has been selected to calculate the consumer price index (CPI) and 2002 has been chosen as the base

Suppose a basket of goods and services has been selected to calculate the consumer price index (CPI) and 2002 has been chosen as the base year. In 2002, the baskets cost was $76.00; in 2004, the baskets cost was $79.50; and in 2006, the baskets cost was $85.00. The value of the CPI was:

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