Business, 07.04.2020 22:57 hayden6920

Consider that the CPI market basket includes two goods (X and Y), and the spending on X constitutes 70% of the overall consumer spending, while the remainder is allocated to Y.

If the price of Y increases by 10% while the price of X decreases by 10% then, all else held constant,

a. The CPI increases
b. The CPI decreases
c. The CPI remains unchanged

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Consider that the CPI market basket includes two goods (X and Y), and the spending on X constitutes...