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Suppose that a typical market based in the US consists of 180 Pineapples and 270 Textbooks.

The table below shows data on prices for Pineapples and Textbooks in the US for three years.

YearPrice of PineapplesPrice of Textbooks
20140.8150
20151.2180
20161.6180

Assume that the base year is 2016.

Given this data, what is the price of the basket in 2014?

Hint

Suppose that a typical market basket in Canada consists of 150 Pineapples and 210 Textbooks.

The table below show data on prices for Pineapples and Textbooks in Canada for three years.

YearPrice of PineapplesPrice of Textbooks
20140.6100
20150.8210
20161190

Assume that the base year is 2016.

Given this data, what is the price of the basket in 2015?

Hint

Suppose that a typical market basket in the US consists of 170 Oranges and 240 Jackets.

The table below shows data on prices for Oranges and Jackets in the US for three years.

YearPrice of OrangesPrice of Jackets
20140.9200
20151.1100
20161.2190

Assume that the base year is 2015.

Given this data, what is the price of the basket in 2016?

Hint

Suppose that a typical market based in the US consists of 110 Oranges and 280 Textbooks.

The table below show data on prices for Oranges and Textbooks in the US for three years.

YearPrice of OrangesPrice of Textbooks
20142130
20151.2160
20161.380

Assume that the base year is 2015.

Given this data, what is CPI in 2014?

Hint

Suppose that a typical market basket in Japan consists of 130 Avocados and 280 Jackets.

The table below shows data on prices for Avocados and Jackets in Japan for three years.

YearPrice of AvocadosPrice of Jackets
20141140
20150.8100
20160.8100

Assume that the base year is 2014.

Given this data, what is CPI in 2015?

Hint

Suppose that a typical market basket in the US consists of 150 Avocados and 290 Bags.

The table below shows data on prices for Avocados and Bags in the US for three years.

YearPrice of AvocadosPrice of Bags
20141.1180
20150.9160
20161.4170

Assume that the base year is 2016.

Given this data, what is CPI in 2016?

Hint

Suppose that a typical market basket in the US consists of 180 Pineapples and 290 Textbooks.

The table below show data on prices for Pineapples and Textbooks in the US for three years.

YearPrice of PineapplesPrice of Textbooks
20141.7100
20150.8180
20161140

Assume that the base year is 2014.

Given this data, what is the inflation rate between 2014 and 2015?

Hint

Suppose that a typical market basket in Canada consists of 160 Oranges and 220 Jackets.

The table below shows data on prices for Oranges and Jackets in Canada for three years.

YearPrice of OrangesPrice of Jackets
20140.8190
20150.890
20161.190

Assume that the base year is 2015.

Given this data, what is the inflation rate between 2015 and 2016?

Hint