Consider an economy in which the typical household consumption basket consists only of 2 apples and 4 oranges. Below are

[answerhappygod]

Consider An Economy In Which The Typical Household Consumption Basket Consists Only Of 2 Apples And 4 Oranges Below Are 1 (25.61 KiB) Viewed 24 times

Consider an economy in which the typical household consumption basket consists only of 2 apples and 4 oranges. Below are the per-unit prices of these goods for 2017, 2018 and 2019. Please use 2017 as the base year. Per Unit Prices Year Apples ($/unit) Oranges ($/unit) 2017 1.00 1.00 2018 1.25 1.50 2019 1.50 2.00 | Refer to CPI questions 3 and 4. What happens to the relative price of apples in terms of oranges between 2017 and 2019? How would you expect households to change their consumption behavior based on these changes? How would this affect inflation rates? Explain your answers clearly with 4-6 sentences. Only responses with a correct explanation will be awarded credit. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Open Sans,sa... v 10pt A P O WORDS POWERED BY TINY !!!