In 2019 and in 2020, consumers in Dexter purchased only books and pens. The prices and quantities for 2019 and 2020 are listed in the table. The reference base period for Dexter's CPI is 2019 and 2019 is also the year of the Consumer Expenditure Survey. Calculate the CPI in 2020. The CPI in 2020 is O A. 106.7 OB. 64.0 OC. 100.0 O D. 93.7 Item Books Pens 2019 2020 Price Quantity Price Quantity $5 4 $4 7 $5 8 $6 4

Economics For Today
10th Edition
ISBN:9781337613040
Author:Tucker
Publisher:Tucker
Chapter17: Inflation
Section: Chapter Questions
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In 2019 and in 2020, consumers in Dexter purchased only books and
pens.
The prices and quantities for 2019 and 2020 are listed in the table.
The reference base period for Dexter's CPI is 2019 and 2019 is also the
year of the Consumer Expenditure Survey.
Calculate the CPI in 2020.
The CPI in 2020 is
A. 106.7
B. 64.0
C. 100.0
D. 93.7
C
Item
Books
Pens
Price
$5
$5
2019
Quantity
4
8
2020
Price Quantity
$4
7
$6
4
Transcribed Image Text:In 2019 and in 2020, consumers in Dexter purchased only books and pens. The prices and quantities for 2019 and 2020 are listed in the table. The reference base period for Dexter's CPI is 2019 and 2019 is also the year of the Consumer Expenditure Survey. Calculate the CPI in 2020. The CPI in 2020 is A. 106.7 B. 64.0 C. 100.0 D. 93.7 C Item Books Pens Price $5 $5 2019 Quantity 4 8 2020 Price Quantity $4 7 $6 4
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