QUESTION 19 The production and prices in a country in two subsequent years are described by the following table Year 1 Year 2 Good Quantity 60 Price Quantity Price $1.00 Apples Oranges 55 40 $1.00 45 y Where x is $0.9 and y is $1.41. What is the inflation rate according to the CPI (using year 1 as the base year) in percent terms? (Submit your answer with up to two decimals, i.e., -10.22 for -10.22% and 11.44 for 11.442%.)

QUESTION 19 The production and prices in a country in two subsequent years are described by the following table Year 1 Year 2 Good Quantity 60 Price Quantity Price $1.00 Apples Oranges 55 40 $1.00 45 y Where x is $0.9 and y is $1.41. What is the inflation rate according to the CPI (using year 1 as the base year) in percent terms? (Submit your answer with up to two decimals, i.e., -10.22 for -10.22% and 11.44 for 11.442%.)

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter7: Unemployment And Inflation

Section: Chapter Questions

Problem 7E

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