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Using the information on exhibit 2 calculate the consumer price index in the current year.

Exhibit 2

Product

Quantity in market basket

Price in base year

Price in current year

Bread

10

$2.00

$1.50

Milk

15

$1.00

$2.00

Gum

50

$1.20

$1.50

 

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M9449659

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