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Business, 12.02.2020 02:16 tiwaribianca475

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 basket’s cost was $77; in 2013, the basket’s cost was $82; and in 2014, the basket’s cost was $90. The value of the CPI in 2014 was .a. 116.9 and the inflation rate was 16.9%.b. 109.8 and the inflation rate was 9.8%.c. 109.8 and the inflation rate was 16.9%.d. 116.9 and the inflation rate was 9.8%.Explain how you got the answer please.

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