In 1998 a dozen eggs sold for $1.20 and the price index was 162.  In 2018 a dozen eggs sold for $1.77 and the price index was 247.  Based on this information, the nominal price of the eggs was lower in _____ and the real price of the eggs was lower in _____. 1998 : 2018 2018 : 2018 2018: 1998  1998:  1998

Economics For Today
10th Edition
ISBN:9781337613040
Author:Tucker
Publisher:Tucker
Chapter17: Inflation
Section: Chapter Questions
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In 1998 a dozen eggs sold for $1.20 and the price index was 162.  In 2018 a dozen eggs sold for $1.77 and the price index was 247.  Based on this information, the nominal price of the eggs was lower in _____ and the real price of the eggs was lower in _____.

1998 : 2018

2018 : 2018

2018: 1998 

1998:  1998

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