Price per Unit in Units Purchased 2008 2009 2010 Good A 5 $1.00 $1.50 $1.50 Good B 10 $2.00 $2.50 $3.00 Good C 4 $4.00 $4.50 $5.00 If 2009 is the base year, the inflation rate between 2008 and 2009 is Select one: Oa. 20.4% Ob. 14.1% Oc 23.2% Od. 18.8%

Price per Unit in Units Purchased 2008 2009 2010 Good A 5 $1.00 $1.50 $1.50 Good B 10 $2.00 $2.50 $3.00 Good C 4 $4.00 $4.50 $5.00 If 2009 is the base year, the inflation rate between 2008 and 2009 is Select one: Oa. 20.4% Ob. 14.1% Oc 23.2% Od. 18.8%

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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Question

Price
per
Unit in
Units Purchased 2008
2009
2010
Good A 5
$1.00
$1.50 $1.50
Good B
10
$2.00
$2.50 $3.00
Good C 4
$4.00
$4.50 $5.00
If 2009 is the base year, the inflation rate between 2008 and 2009 is
Select one:
Oa.
20.4%
Ob.
14.1%
Oc 23.2%
Od.
18.8%
here to search

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