Answer the question below based on the following price and output data over a fi

Question

Answer the question below based on the following price and output data over a five-year period for an economy that produces only one good. Assume that year 2 is the base year.

Year

Units of

Output

Price per

Unit

1

  8

$2

2

10

3

3

15

4

4

18

5

5

20

6

If year 2 is the base year, the Consumer Price Index for year 5 is

Year

Units of

Output

Price per

Unit

1

  8

$2

2

10

3

3

15

4

4

18

5

5

20

6

Answer the question below based on the following price and output data over a five-year period for an economy that produces only one good. Assume that year 2 is the base year. Units of Output 8 10 15 18 20 Price per Unit $2 3 4 5 6 Year 2 3 4 5 If year 2 is the base year, the Consumer Price Index for year 5 is Multiple Choice 50 100 150 200.

Explanation / Answer

Answer

CPI=(Current period price of basket/base period price of basket)*100

=((20*6)/(20*3))*100

=200

option fourth

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