Table 24-10
The table below shows the prices of baseballs and baseball bats for three years. Assume the typical consumer's basket consists of 6 baseballs and 2 baseball bats.
-Refer to Table 24-10. If 2010 is the base year, then the consumer price index was
A)77.40 in 2008, 85.16 in 2009, and 100.00 in 2010.
B)50.50 in 2008, 67.50 in 2009, and 100.00 in 2010.
C)90.88 in 2008, 85.16 in 2009, and 100.00 in 2010.
D)169.50 in 2008, 186.50 in 2009, and 219.00 in 2010.

Question

Table 24-10
The table below shows the prices of baseballs and baseball bats for three years. Assume the typical consumer's basket consists of 6 baseballs and 2 baseball bats. 
-Refer to Table 24-10. If 2010 is the base year, then the consumer price index was
A)77.40 in 2008, 85.16 in 2009, and 100.00 in 2010. 
B)50.50 in 2008, 67.50 in 2009, and 100.00 in 2010. 
C)90.88 in 2008, 85.16 in 2009, and 100.00 in 2010. 
D)169.50 in 2008, 186.50 in 2009, and 219.00 in 2010.

Quizplus · Accepted Answer

The consumer price index (CPI) is set to 100 in the base year, which is 2010 in this case. The CPI values for other years are calculated relative to the base year. Option A provides a plausible set of CPI values with 100.00 in 2010.

Table 24-10 The Table Below Shows the Prices of Baseballs and Baseball