Ask Question
BusinessBusiness
30 March, 17:09

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

+1
Answers (1)
  1. 30 March, 17:13
    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 the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The direct write-off method is used when: Multiple Choice Uncollectible accounts are not anticipated or are immaterial. A company elects to use this method as one of several alternatives. A company has greater cash outflows than cash inflows.
Answers (1)
Based on the following information, determine the amount of equipment on the balance sheet. Total liabilities and owner's equity equals $11.
Answers (1)
The following incomplete (columns have missing amounts) pension spreadsheet is for Old Tucson Corporation (OTC).
Answers (1)
3. Kramerica Inc. has forecast sales to be $600,000 in January, $480,000 in February, $500,000 in March and $620,000 in April. Forty percent of sales are made in cash, with the remainder on credit.
Answers (1)
What is the grace period on a credit card?
Answers (1)
New Questions in Business
Sharp Focus Cameras is facing intense competitive pressure. Top marketing managers are looking for ways to cut costs. They are considering a plan to cut distribution costs by eliminating marketing intermediaries from the channel of distribution.
Answers (1)
Older adults who participated in 20 one-hour video game training sessions with the program lumosity showed reduction in their:
Answers (1)
The total of tools, equipment, machinery, and buildings used to produce goods and services is called supply. True or False
Answers (1)
What percentage of federal revenues is made up of corporate taxes
Answers (1)
F Rudy offers Oscar $200 for his laptop valued at $600 and Oscar agrees, a court will probably
Answers (1)
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?