Type the correct answer in each box round your answers to two decimal places, if necessary
consider a simple economy where the basket of goods used to calculate the cpi contains two items shirts and pants. the basket consists of 3 shirts
and 2 pairs of pants. each tem increases in price by $1 in year 2. use this information to complete the table and calculate the cpl
year price of a shirt price of a pair of pants
year 1 $25
year 2
s
s
$20
the cpi for year 2 is
reset