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Calculate the CPI using the following data Assume that there is one of each item in the market basket Market basket Apples lb Oranges lb Bananas lb Cereal box Milk gal

Calculate the CPI using the following data. Assume that there is one of each item in the market basket. Market basket Apples lb. Oranges lb. Bananas lb. Cereal box Milk gal. Prices base yr. $ 0.45 $0.35 $0.20 $3.00 $2.40 Prices base yr.+1 $0.60 $0.30 $0.25 $3.20 $2.45 The value of the market basket in the base year is The value of the market basket in the base year plus one is The CPI in the base year is The CPI in the base year plus one is There has been inflation or deflation __________ of ____________ percent.

Jun 05 2020 View more View Less

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