A consumer expenditure survey reports

Question

1.A consumer expenditure survey reports the following information on entertainment spending:

2005 2006

Price Quantity Price Quantity

Movies $7 5 $8 7

Concerts $30 2 $35 2

CDs $16 7 $15 10

Using 2005 as the base year, by how much does a "cost of entertainment" index increase between 2005 and 2006?

A.

3.86%

B.

8.65%

C.

13.43%

D.

29.41%

Answer: A

2. A consumer expenditure survey reports the following information on consumer protein spending:

2005 2006

Price Quantity Price Quantity

Fish $5 5 $7 7

Chicken $3 10 $4 03

Beef $6 7 $5 10

Using 2005 as the base year, by how much does a "cost of protein" index increase between 2005 and 2006?

A.

5.2%

B.

8.6%

C.

13.4%

D.

14.3%

Answer: C

3.The consumer price index for Planet Econ consists of only two items: books and hamburgers. In 2000, the base year, the typical consumer purchased 10 books for $25 each and 25 hamburgers for $2 each. In 2005, the typical consumer purchased 15 books for $30 each and 30 hamburgers for $3 each. The consumer price index for 2005 on Planet Econ equals:

A.

1.00

B.

1.15

C.

1.25

D.

1.45

Answer: C

I know what the answers are for these 3 questions but I just have no clue how they came to these answers. If you could work each problem step by step it would be highly appreciated.