Ask Question
BusinessBusiness
5 July, 18:11

Suppose a basket of goods and services has been selected to calculate the cpi and 2004 has been selected as the base year. in 2002, the basket's cost was $50; in 2004, the basket's cost was $52; and in 2006, the basket's cost was $54.60. the value of the cpi in 2006 was

+4
Answers (1)
  1. 5 July, 20:59
    0
    104

    Explanation:

    CPI is the consumer price index. It is a measure of changes in prices level in an economy. CPI is used to indicate the inflate rate in a country.

    The formula for calculating the CPI is as follows.

    CPI = current basket prices / base year basket price x 100

    In this case.

    CPI = 52/50 x 100

    CPI = 1.04 x 100

    CPI = 104
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Suppose a basket of goods and services has been selected to calculate the cpi and 2004 has been selected as the base year. in 2002, the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Consider the two perceived demand curves shown in the graph. A graph with price on the vertical axis and quantity on the horizontal axis. The graph contains two line that intersect. Line A is perfectly horizontal and line B is downward sloping.
Answers (1)
Which amnedment is outlaws paying a tax as a condition for voting?
Answers (1)
The Mello Company was recently started and had the following transactions: A. Owner's invest $8,000 in the company B. Purchased $1,625 of equipment C. Purchased $4,000 of inventory D. Borrowed $1,200 from a bank E. Paid $750 rent on office space F.
Answers (1)
Huck Finn is thinking about purchasing some stock in Mississippi Mining Company (MMC). Huck uses the price/earnings ratio technique when purchasing stock. MMC stock is currently selling for $100 per share.
Answers (1)
The standard price and quantity of direct materials are separated because a. GAAP and IFRS reporting requires separation b. standard prices are more difficult to estimate than standard quantities c.
Answers (1)
New Questions in Business
Which tab in the Group Policy Results window shows all events in Event Viewer that are generated by group policies, and can be used to view the relevant information on a remote computer?
Answers (1)
The Backwoods American company operates a telephone order system for a catalogue of its outdoor clothing prod- ucts. The catalogue orders are processed in three stages.
Answers (1)
Using notes outside of given key to produce heightened color is referred to as A. Orchestration B. Chromatisicm C. pallete work D. Tonality
Answers (2)
Which of the following are not excludable as an employee fringe benefit? a. Public transportation costs of $130 per month provided by the employer b. Employee deductions of $4,200 for dependent childcare expenses c.
Answers (2)
What was ireland's greatest export during the 1840s?
Answers (2)
Home » Business » Suppose a basket of goods and services has been selected to calculate the cpi and 2004 has been selected as the base year. in 2002, the basket's cost was $50; in 2004, the basket's cost was $52; and in 2006, the basket's cost was $54.60.
Sign Up Forgot Password?