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23-12-2022
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Suppose a basket of goods and services has been selected to calculate the CPI and 2002 has been selected as the base year. In 2002, the basket's cost was $50; in 2004, the basket's cost was $52; and in 2006, the basket's cost was $54.60. The value of the CPI in 2004 was
a. 104.0.
b. 152.0.
c. 102.0.
d. 96.2.

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