Mathematics, 10.03.2020 00:04 tishfaco5000

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 If the CPI allowed for the substitution of oranges for apples so that there are zero apples and 2 pounds of oranges in the base year plus one the value of the market basket would be and the CPI would be . There would be inflation or deflation of percent.

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Calculate the CPI using the following data. Assume that there is one of each item in the market bask...