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10-10-2022
Mathematics

Answered

Consider a simple economy where the basket of goods used to calculate the CPI contains two items: shampoo and soap. The basket consists of 1 bottle of shampoo and 2 bars of soap. The prices are shown in the table.

Year Price of a Bottle of Shampoo Price of a Bar of Soap
Year 1 $6.50 $1.25
Year 2 $6.60 $1.30
Type the correct answer in the box. Round your answers to two decimal places, if necessary.

The CPI for year 2 is
.

Answer :

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