Monthly expenditures for a family of 4 in 2017 averaged $1,400. In 2018, the cost of the same purchases was $1,500. If 2017 is the base year, what was the cpi in 2018?.

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25-10-2022
Business

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Monthly expenditures for a family of 4 in 2017 averaged $1,400. In 2018, the cost of the same purchases was $1,500. If 2017 is the base year, what was the cpi in 2018?.

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abhinavjh321 abhinavjh321 · Answer 1 · 2022-10-28T06:57:13-04:00

A family of four spent, on average, $1,400 per month in 2017. The identical purchases in 2018 cost $1,500. 107 was the cpi in 2018 if 2017 served as the base year.

Both private persons and businesses conduct purchases on a regular basis. Transferring ownership of a piece of property—physical, intellectual, virtual, or otherwise—is the goal of this financial transaction. By acquiring the property, the owner has the freedom to use or dispose of it for his own purposes. When it comes to corporate purchases, the purchasing activity is usually a formal process. More people make smaller purchases than bigger ones. As a result, they call for less consideration and analysis.

Purchases may be done with credit or cash. Even though the latter does not pay cash for the good or service until a later date, both normally transfer ownership at the beginning of the transaction.

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