If a person prefers a gamble with an expected value of $100 to a sure $100 that person is

The CPI measures the average prices paid by __________ for _________

A. urban consumers; a fixed basket of consumption goods and services B. urban consumers; the average basket of goods and services they buy C. all consumers; housing, transportation, and food D. everyone who earns an income; the necessities of life

Refer to Table 20-10. Suppose an economy has only three goods and the typical family purchases the amounts given in the table above. If 2011 is the base year, then what is the CPI for 2016?

A) 14.3 B) 87.5 C) 114.3 D) 160