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Use the information in the table to calculate a consumer price index (CPI) and the inflation rate. The base year is 1975.
Round answers to two decimal places.
Market basket Quantity 1975 prices 1976 prices
A dozen eggs
29
$1.10
$1.70
Calculator
19
$15.00
$17.00
Microwave oven
9
$180.00
$230.00
What is the CPI for 1975?
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ENG 10:52 PM
UK 03/03/2021
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