17. Suppose the following table represents the cost of a market basket of goods

Question

17. Suppose the following table represents the cost of a market basket of goods in the San Francisco Bay area for the years 2006, 2007, 2008, and 2009. Assume that the base year is 2006. Therefore, the price index for 2008 is:

Year Cost
2006 10,000
2007 12,000
2008 13,000
2009 16,000

answer choices
A. 1.3.
B. 108.3.
C. 160.
D. 130.

18. Suppose the following table represents the cost of a market basket of goods in the San Francisco Bay area for the years 2006, 2007, 2008, and 2009. The base year is 2006. Use this information to calculate the inflation rate for 2009. The inflation rate for 2009 is:

Year Cost
2006 10,000
2007 12,000
2008 13,000
2009 16,000

Answer choices
A. 23.1%.
B. 20%
C. 8.3%.
D. 2.3%.

Explanation / Answer

A B Hope this helps

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