Table 24-7. The table below applies to an economy with only two goods - hamburgers and hot dogs. The fixed basket consists of 4 hamburgers and 8 hot dogs.
-Refer to Table 24-7. If the base year is 2009, then the consumer price index is
A)100 in 2009, 109 in 2010, and 115 in 2011.
B)100 in 2009, 110 in 2010, and 117 in 2011.
C)110 in 2009, 121 in 2010, and 128.26 in 2011.
D)44 in 2009, 48.4 in 2010, and 51.48 in 2011.

Question

Table 24-7. The table below applies to an economy with only two goods - hamburgers and hot dogs. The fixed basket consists of 4 hamburgers and 8 hot dogs. 
-Refer to Table 24-7. If the base year is 2009, then the consumer price index is
A)100 in 2009, 109 in 2010, and 115 in 2011. 
B)100 in 2009, 110 in 2010, and 117 in 2011. 
C)110 in 2009, 121 in 2010, and 128.26 in 2011. 
D)44 in 2009, 48.4 in 2010, and 51.48 in 2011.

Quizplus · Accepted Answer

The Answer of Table 24-7. The table below applies to an economy with only two goods - hamburgers and hot dogs. The fixed basket consists of 4 hamburgers and 8 hot dogs. 
-Refer to Table 24-7. If the base year is 2009, then the consumer price index is
A)100 in 2009, 109 in 2010, and 115 in 2011. 
B)100 in 2009, 110 in 2010, and 117 in 2011. 
C)110 in 2009, 121 in 2010, and 128.26 in 2011. 
D)44 in 2009, 48.4 in 2010, and 51.48 in 2011.