Table 24-4
The table below pertains to Studious, an economy in which the typical consumer's basket consists of 5 books and 10 calculators.
-Refer to Table 24-4. If 2014 is the base year, then the consumer price index was
A)75 in 2012, 92.8 in 2013, and 100 in 2014.
B)75 in 2012, 93.2 in 2013, and 100 in 2014.
C)247.5 in 2012, 307.5 in 2013, and 330 in 2014.
D)210 in 2012, 260 in 2013, and 280 in 2014.

Question

Table 24-4
The table below pertains to Studious, an economy in which the typical consumer's basket consists of 5 books and 10 calculators. 
-Refer to Table 24-4. If 2014 is the base year, then the consumer price index was
A)75 in 2012, 92.8 in 2013, and 100 in 2014. 
B)75 in 2012, 93.2 in 2013, and 100 in 2014. 
C)247.5 in 2012, 307.5 in 2013, and 330 in 2014. 
D)210 in 2012, 260 in 2013, and 280 in 2014.

Quizplus · Accepted Answer

2014 is the base year, so the CPI for 2014 is 100. The CPI for 2013 is 92.8, and the CPI for 2012 is 75.

Table 24-4 The Table Below Pertains to Studious, an Economy in Which