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atroni [7]
3 years ago
13

2. In 2016; the cost of a market basket of goods was $2,000. In 2018, the cost of the same market basket of goods was

Business
1 answer:
GREYUIT [131]3 years ago
7 0

Answer:

105

Explanation:

base year = 2016

cost of market basket of goods in base year = $2,000

CPI for base year = 100

year 2018

cost of market basket of goods in 2018 = $2,100

CPI for 2018 = (cost of basket of goods in 2018 / cost of basket of goods in base year) x 100 = ($2,100 / $2,000) x 100 = 105

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