The formula for calculating the CPI is
A) (Expenditures in the current year × Expenditures in the base year)/100.
B) (Expenditures in the base year/Expenditures in the current year).
C) (Expenditures in the base year × 100)/(Expenditures in the current year).
D) (Expenditures in the current year/Expenditures in the base year) × 100.
D
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Refer to Table 18.1. Russia has a comparative advantage in
A) gloves. B) hats. C) both hats and gloves. D) neither hats nor gloves.
Which of the following has NOT changed much as a percent of GDP over the last twenty years for the United States?
i. the official settlements account ii. the capital and financial account iii. the current account A) ii only B) ii and iii C) iii only D) i only E) None of the above answers is correct because all three have had large swings over the last 20 years.