Answered: 23) If the CPI in 2017 was 100 and…

23) If the CPI in 2017 was 100 and there was 3% inflation each year from 2017-2020, what would the CPI in 2020 be? A) 109.27 B) 88.53 C) 103 D) 105.24

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter22: Inflation

Section: Chapter Questions

Problem 3SCQ: Compute the inflation rate for fruit prices from 2001 to 2004.

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23) If the CPI in 2017 was 100 and there was 3% inflation each year from 2017-2020, what would the CPI in
2020 be?
A) 109.27
B) 88.53
C) 103
D) 105.24

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