-Consumers in a Country Buy Only Two Goods, Pens and

$$\begin{array} { l c c c c } { \text { Item } } & \begin{array} { c } \text { Quantity } \\( 2009 ) \end{array} & \begin{array} { c } \text { Price } \\( 2009 ) \end{array} & \begin{array} { c } \text { Quantity } \\( 2010 ) \end{array} & \begin{array} { c } \text { Price } \\\mathbf { ( 2 0 1 0 ) }\end{array} \\\hline \text { Pens } & 400 & \$ 1.00 & 400 & \$ 1.02 \\\text { CDs } & 200 & \$ 15.00 & 200 & \$ 15.90 \\\hline\end{array}$$
-Consumers in a country buy only two goods, pens and CDs.The prices and quantities purchased by urban households are in the table above.The reference base year is 2009.If the current year is 2010, the cost of the CPI market basket in 2010 is

A) $3,400.
B) $3,588.
C) $3,580.
D) $3,508.
E) $3,500.

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free