Homework answers / question archive / Government survey takers determine that typical family expenditures each month in the year designated as the base year are as follows: • 10 pizzas at $12 each • Rent of apartment, $750 per month • Gasoline, car insurance, and maintenance, $150 • Phone service (basic service plus 10 long-distance calls), $50 In the year following the base year, the survey takers determine that pizzas have risen to $15 each, apartment rent is $810, gasoline, car insurance, and maintenance have risen to $170, and phone service has dropped in price to $40

Government survey takers determine that typical family expenditures each month in the year designated as the base year are as follows: • 10 pizzas at $12 each • Rent of apartment, $750 per month • Gasoline, car insurance, and maintenance, $150 • Phone service (basic service plus 10 long-distance calls), $50 In the year following the base year, the survey takers determine that pizzas have risen to $15 each, apartment rent is $810, gasoline, car insurance, and maintenance have risen to $170, and phone service has dropped in price to $40

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Government survey takers determine that typical family expenditures each month in the year designated as the base year are as follows: • 10 pizzas at $12 each • Rent of apartment, $750 per month • Gasoline, car insurance, and maintenance, $150 • Phone service (basic service plus 10 long-distance calls), $50 In the year following the base year, the survey takers determine that pizzas have risen to $15 each, apartment rent is $810, gasoline, car insurance, and maintenance have risen to $170, and phone service has dropped in price to $40. a) Find the CPI in the subsequent year and the rate of inflation between the base year and the subsequent year. Instructions: Round your CPI answer to 3 decimal places and Rate of inflation to 1 decimal place.