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Chapter 9: Inflation

Practice

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Question 1 of 37Self-Check Questions
1

Table 9.4 shows the fruit prices that the typical college student purchased from 2001 to 2004. What is the amount spent each year on the “basket” of fruit with the quantities shown in column 2? (2001) Amount (2002) Amount (2003) Amount (2004) Amount Items Qty (2001) (2002) (2003) (2004) Price Price Price Price Spent Spent Spent Spent Apples 10 $0.50 $0.75 $0.85 $0.88 Bananas 12 $0.20 $0.25 $0.25 $0.29 Grapes 2 $0.65 $0.70 $0.90 $0.95 Raspberries 1 $2.00 $1.90 $2.05 $2.13 $2.13 Total TABLE 9.4