Suppose that a simple, imaginary economy produces only two goods: bread and apples.In addition to these two goods, the economy alsoconsumes and importschicken.Using the information below, answer the following questions

	Bread	Apples	Chicken
2019 Quantity	100	200	40
2019 Price	$2.00	$1.20	$2.00
2020 Quantity	150	210	70
2020 Price	$2.00	$1.40	$2.25

Calculate the CPI in 2020, using 2020 as the base year.Hint:Urban households would buy all the above goods.Round two decimal places.

Answer:

(100)

Question 37

0 / 2 points

Suppose that a simple, imaginary economy produces only two goods: bread and apples.In addition to these two goods, the economy alsoconsumes and importschicken.Using the information below, answer the following questions

	Bread	Apples	Chicken
2019 Quantity	100	200	40
2019 Price	$2.00	$1.20	$2.00
2020 Quantity	150	210	70
2020 Price	$2.00	$1.40	$2.25

Calculate the growth rate in the CPI price levels between 2019 and 2020 using 2020 as the base year. Round all answers two decimal places and put % in the units box.

Answer:

(8.60)

(%)