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Consumer Price Index Consumer Price Index) Calculate a new consumer price index for the data...

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Accounting

Consumer Price Index Consumer Price Index) Calculate a new consumer price index for the data in the following exhibit. Assume that current year prices of Milk, fuel oil, and AT & T are $3.5/gallon, $1.25/gallon, and $95// month, respectively. Calculate the current year's cost of the market basket and the value of the current year's price index. What is this year's percent change in the price level compared to the base year? {:[" Good or "],[" Service "]:} {:[" Quantity in "],[" Market "],[" Basket "]:} {:[" Prices in "],[" Base Year "]:} {:[" Cost of "],[" Basket "],[" in Base Year "]:} {:[" Prices in "],[" Current Year "]:} {:[" Cost of "],[" Basket "],[" in Current "],[" Year

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