https://homeworkspool.com/wp-content/uploads/2021/02/logo.png 0 0 Davie https://homeworkspool.com/wp-content/uploads/2021/02/logo.png Davie2019-06-26 13:36:092019-06-26 13:36:09the cost of a market basket of goods
the cost of a market basket of goods
Suppose in 2014, the cost of a market basket of goods was $1,989. In 2016, the cost of the same market basket of goods was $2,141. Calculate the price index for 2016, using the price index formula, assume 2014 is the base year.
My answer is 107.6, but that does not seem right. Please explain.