Price Index Practice Problems - Weebly
Compute a consumer price index for each year and determine the percentage change in the index over the two years. The basket cost $162.5 ($2*50+$1.25*50) in the first year and $175 ($1.50*50+$2*50) in the second year. The percent increase is 7.69% ((175-162.5)/162.5). b. Calculate Jimmy's nominal spending on candy bars in each year. ................
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