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Suppose a basket of goods and services has been selected to calculate the CPI and 2012 has been selected as the base year. In 2012,

Suppose a basket of goods and services has been selected to calculate the CPI and 2012 has been selected as the base year. In 2012, the baskets cost was $50; in 2014, the baskets cost was $52; and in 2016, the baskets cost was $55. The value of the CPI in 2016 was

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