The following table pertains to Wrexington, an economy in which the typical consumer's basket consists of 20 pounds of meat and 10 toys. Price of a Toy (Dollars per toy) Price of Meat Year (Dollars per pound) 3 1 4 1 2 3 Refer to Table 25-2. If the base year is Year 1, then the CPI in Year 2 was 88.9. 90. 100. 2 7 5 112.5.

Economics (MindTap Course List)
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Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment
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The following table pertains to Wrexington, an economy in which the typical consumer's basket consists of 20 pounds of meat and 10 toys.
Price of a Toy
(Dollars per toy)
Price of Meat
Year (Dollars per pound)
3
1
4
1
2
3
Refer to Table 25-2. If the base year is Year 1, then the CPI in Year 2 was
88.9.
90.
100.
2
7
5
112.5.
Transcribed Image Text:The following table pertains to Wrexington, an economy in which the typical consumer's basket consists of 20 pounds of meat and 10 toys. Price of a Toy (Dollars per toy) Price of Meat Year (Dollars per pound) 3 1 4 1 2 3 Refer to Table 25-2. If the base year is Year 1, then the CPI in Year 2 was 88.9. 90. 100. 2 7 5 112.5.
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