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QUESTION
Assume the current CPI (2018) is 252.439 and the CPI for 2009 is 215. Mark consumes apples. In year 2009, red apples cost $1 each and green apples...
Assume the current CPI (2018) is 252.439 and the CPI for 2009 is 215.969 . Mark consumes apples. In year 2009, red apples cost $1 each and green apples cost $2 each. In year 2009, red apples cost $1 each and green apples cost $2 each. In year 2018, red apples cost $1.16 each and green apples cost $2.45 each.
Is the rate of inflation for red apples greater than or less than the CPI over the same period of time? What about green apples?
