Answered: Refer to Table 2. What is the rate of…

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Refer to Table 2. What is the rate of inflation between 2010 and 2012? Question 24 options: a) 18% b) 12% c) 15% d) 10%

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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Question

Year	Price of Pizza	Price of Beer
2010	$10	$15
2011	$12	$16
2012	$14	$17

Table 2. Let 2010 be the base year

Use the following market basket:
100 pizzas
300 cases of beer

Refer to Table 2. What is the rate of inflation between 2010 and 2012?

Question 24 options:

18%

12%

15%

10%

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