Suppose that the residents of Koliner spend all of their income on banana, apple, and oranges. In 2008, they buy 100 bunches of banana for $200, 50 of apple for $75, and 500 oranges for $50. In 2009, they buy 75 bunches of banana for $225, 80 of apple for $120, and 500 oranges for $100.;a. Calculate the price of each fruits in each year.;b. Using 2008 as the base year, calculate the CPI for each year.;c. What is the inflation rate in 2009?
Paper#15004 | Written in 18-Jul-2015Price : $27