Question

Suppose that the residents of Greenland play golf incessantly. In fact, golf is the only thing that they spend their money on. They buy golf balls, clubs, and tees. In 2010, they bought 2,000 golf balls for $3.00 each, 200 clubs for $80.00 each, and 1,000 tees for $0.10 each. In 2011, they bought 2,100 golf balls for $3.50 each, 250 clubs for $90.00 each, and 1,500 tees for $0.15 each. Using 2010 as the base year, answer the following questions. Give all answers to one decimal.

What was the CPI for 2010?

Answer 1

Answer:

100

Explanation:

The CPI full form is the consumer price index which shows the changes in the prices of the various goods and the other items. It reflects the variations in the prices whether it can be increment or decrements

Since the question has already said using 2010 as the base year so the consumer price index for the year 2010 is equal to the value of the base year i.e 100