the cost of a market basket of goods
Hello.
Suppose in 2014, the cost of a market basket of goods was $1,989. In 2016, the cost of the same market basket of goods was $2,141. Calculate the price index for 2016, using the price index formula, assume 2014 is the base year.
My answer is 107.6, but that does not seem right. Please explain.
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