Suppose the price index is 110 and a typical basket of goods and services costs $3,300. What would this typical basket have cost in the base year?
a) $30 b) $3,000 c) $3,630 d) not enough information to tell
Suppose the price index is 110 and a typical basket of goods and services costs $3,300. What would this typical basket have cost in the base year?
a) $30 b) $3,000 c) $3,630 d) not enough information to tell