Suppose the Australian economy has only three goods, and the typical family purchases the amounts given in the following table. If 1999 is the base year, then what is the CPI for 2006?
|
Product
|
Quantity (1999)
|
Price (1999)
|
Quantity (2006)
|
Price (2006)
|
|
Computers
|
1
|
$1,700
|
6
|
$1,200
|
|
Books
|
10
|
$25
|
7
|
$30
|
|
Burgers
|
50
|
$1
|
60
|
$2
|