{"id":22146,"date":"2016-07-28T07:37:17","date_gmt":"2016-07-28T07:37:17","guid":{"rendered":"http:\/\/essayparlour.com\/paperhelp\/uncategorized\/3-cost-of-basket-in-show-more-consumer-price-index-prod\/"},"modified":"2016-07-28T07:37:17","modified_gmt":"2016-07-28T07:37:17","slug":"3-cost-of-basket-in-show-more-consumer-price-index-prod","status":"publish","type":"post","link":"https:\/\/essayparlour.com\/paperhelp\/economics\/3-cost-of-basket-in-show-more-consumer-price-index-prod\/","title":{"rendered":"(3) Cost of Basket in&#8230; Show more Consumer Price Index Prod"},"content":{"rendered":"<p>(3) Cost of Basket in&#8230; Show more Consumer Price Index Product (1) Qty in Market Basket (2) Prices in Base Yr (3) Cost of Basket in Base Yr (3) = (1) x (2) (4)Prices in Current Yr (5) Cost of Basket in Current Yr (5) = (1) x (4) Twinkies 365 Pkgs $089\/pkg $324.85 $0.79 $288.35 Fuel Oil 500 Gallons $1.00\/gal $500.00 $1.50 $750.00 Cable TV 12 months $30.00\/mo $360.00 $30.00 $360.00 Total $1,184.85 $1,398.35 Calculate a new consumer price index for the above data. Assume that current-year prices of Twinkies, Fuel oil, and cable TV are $0.95\/pkg, $1.25\/gal, and $15\/mo, respectively. Calculate the current year&#8217;s cost of the market basket and the value of the current year&#8217;s price index. What is the year&#8217;s percentage change in the price level compared to the base year? \u2022 Show less<\/p>\n<p><a href='http:\/\/essayparlour.com\/order'><img id='order_now' class='aligncenter' src='http:\/\/essayparlour.com\/wp-content\/uploads\/2016\/07\/8952039_orig.png' alt='Order Now' name='order_now'><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(3) Cost of Basket in&#8230; Show more Consumer Price Index Product (1) Qty in Market Basket (2) Prices in Base Yr (3) Cost of Basket in Base Yr (3) = (1) x (2) (4)Prices in Current Yr (5) Cost of Basket in Current Yr (5) <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-22146","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts\/22146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/comments?post=22146"}],"version-history":[{"count":0,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts\/22146\/revisions"}],"wp:attachment":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/media?parent=22146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/categories?post=22146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/tags?post=22146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}