Bike                 Washer                     car                                   TV                                   Yr1                                 300                   1560                          5600                                   52   Yr2                                 310                   1570                          5610                                   53   Y3                                   325                   1585                         5650                                   54   Yr4                                 350                   1610                         5700                                   55   Using the information above -Give the consumer price index for years one, two, three, and four -State what the percent rate of change in the CPI/inflation will be from year 1 to year 2, from year 2 to year 3, from year 3 to year 4. (round to the whole number for all calculations and final answers)

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 33P: The index number representing the price level changes from 110 to 115 in one year and then from 115...
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                                      Bike                 Washer                     car                                   TV

                                 

Yr1                                 300                   1560                          5600                                   52

 

Yr2                                 310                   1570                          5610                                   53

 

Y3                                   325                   1585                         5650                                   54

 

Yr4                                 350                   1610                         5700                                   55

 

Using the information above

-Give the consumer price index for years one, two, three, and four

-State what the percent rate of change in the CPI/inflation will be from year 1 to year 2, from year 2 to year 3, from year 3 to year 4. (round to the whole number for all calculations and final answers)

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