f the price of a basket of goods in year 2 is $11 and the price of the same basket of goods is $10 in the year 1 (the base year), then the price index for year 2 is:Multiple choice question.1101.1

f the price of a market basket of goods in year 1 is $10 and $12 in year 3 and the base year is year 1, the price index for year 3 is

The price of a market basket of goods in a specific year divided by the price of the same market basket of goods in the base year multiplied by 100 is called a ______.Multiple choice question.price indexreal GDPconsumption indexnominal GDP

Suppose the total expenditure for a market basket of goods in year 1 (the base year) is $200 billion. In year 2 the expenditure for the same market basket of goods is $220 billion. What is the CPI for the economy in year 2?Group of answer choices22090109110120

The cost of a consumer basket is $234 in 2012, $240 in 2013, and $245 in 2014.If the base year (=100) is 2013, what is the value of your CPI in 2012?

The formula for calculating a price index is ______.Multiple choice question.real GDP divided by nominal GDPthe price of a market basket in a specific year divided by the price of the same market basket in the base year multiplied by 100the price of the market basket in the base year divided by the price of the same market basket in a specific year multiplied by 100real GDP multiplied by nominal GDP