This table indicates the historical level of the Consumer Price Index (CPI) for the United States for 1980, 1981, and 1982. Complete the table by (1) selecting the inflation rates for 1981 and 1982, and (2) indicating for each year whether there has been inflation, defi or hyperinflation. Year CPI Inflation Rate Change in Price Level 1980 82.4 1981. 90.9 1982 96.5 What rates of inflation for 1983 would be consistent with disinflation between 1982 and 1983? Check all that apply. 6.1% 6.2% 16.2% 56.2% What rates of inflation for 1983 would be consistent with hyperinflation? Check all that apply. 15.1% 120.1% 100.1% -6.2%

ECON MACRO
5th Edition
ISBN:9781337000529
Author:William A. McEachern
Publisher:William A. McEachern
Chapter7: Unemployment And Inflation
Section: Chapter Questions
Problem 3.7P
icon
Related questions
Question
2. Calculating and categorizing inflation
This table indicates the historical level of the Consumer Price Index (CPI) for the United States for 1980, 1981, and 1982.
Complete the table by (1) selecting the inflation rates for 1981 and 1982, and (2) indicating for each year whether there has been inflation, deflation,
or hyperinflation.
Year CPI Inflation Rate Change in Price Level
1980 82.4
1981 90.9
1982 96.5
What rates of inflation for 1983 would be consistent with disinflation between 1982 and 1983? Check all that apply.
6.1%
6.2%
16.2%
56.2%
What rates of inflation for 1983 would be consistent with hyperinflation? Check all that apply.
15.1%
120.1%
100.1%
-6.2%
Transcribed Image Text:2. Calculating and categorizing inflation This table indicates the historical level of the Consumer Price Index (CPI) for the United States for 1980, 1981, and 1982. Complete the table by (1) selecting the inflation rates for 1981 and 1982, and (2) indicating for each year whether there has been inflation, deflation, or hyperinflation. Year CPI Inflation Rate Change in Price Level 1980 82.4 1981 90.9 1982 96.5 What rates of inflation for 1983 would be consistent with disinflation between 1982 and 1983? Check all that apply. 6.1% 6.2% 16.2% 56.2% What rates of inflation for 1983 would be consistent with hyperinflation? Check all that apply. 15.1% 120.1% 100.1% -6.2%
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Consumer Price Index
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
ECON MACRO
ECON MACRO
Economics
ISBN:
9781337000529
Author:
William A. McEachern
Publisher:
Cengage Learning
Brief Principles of Macroeconomics (MindTap Cours…
Brief Principles of Macroeconomics (MindTap Cours…
Economics
ISBN:
9781337091985
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Economics 2e
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax