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Suppose the CPI market basket consists of 6 pizza slices and two movie tickets each month. The prices in 1983, 2018, and 2019 are provided
Suppose the CPI market basket consists of 6 pizza slices and two movie tickets each month. The prices in 1983, 2018, and 2019 are provided in the tables below. Prices and Quantities of the CPI Basket in 1983 Year 1983 Pizza slice Movie ticket Price $1 $3 Quantity 6 2 The Prices and Quantities of the CPI Basket in 2018 Year 2018 Pizza slice Movie ticket Price $2.78 $10.80 Quantity 6 2 Prices and Quantities of the CPI Basket in 2019 Year 2019 Pizza slice Movie ticket Price $2.82 $11 Quantity 6 2 CPI in 2018 was ________, CPI in 2019 was ________, inflation rate in 2018 was ________, and inflation rate in 2019 was ________. Group of answer choices 324.33 319; 1.67%; it cannot be calculated with the provided information 319; 324.33; it cannot be calculated with the provided information; it cannot be calculated with the provided information 319; 324.33; it cannot be calculated with the provided information; 1.67% 319; 324.33; 2.54%; 1.67% Flag
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