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08.09.2021 •
Mathematics
Consider a simple economy where a basket of goods used to calculate the cpi contains 2 items. shirts & pants. the basket contains 3 shirts & 2 pants, each item increases $1 in price in year 2.
year1 price of shirt $25 price of pants $20
year2 price of shirt $26 price of pants $21
what is the cpi for year 2?
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