Year 2014 (base) 2015 2016 Product Quantity Price Quantity Price Quantity Price Beer 600 18 650 19.5 675 Pizza 250 7.5 275 10 280 Pepperoni 3500 0.1 3850 0.13 3920 Brownies 100 130 180

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Given the deflator in 2015 is 110.4. What is the inflation rate between 2015 and 2016?

 
Using the calculation for the inflation rate, is the economy experiencing inflation, disinflation, or deflation
Year
2014 (base)
2015
2016
Product
Quantity Price
Quantity Price
Quantity Price
Beer
600
18
650
19.5
675
20
Pizza
250
7.5
275
10
280
15
Pepperoni
3500
0.1
3850
0.13
3920
0.2
Brownies
100
130
180
10
Transcribed Image Text:Year 2014 (base) 2015 2016 Product Quantity Price Quantity Price Quantity Price Beer 600 18 650 19.5 675 20 Pizza 250 7.5 275 10 280 15 Pepperoni 3500 0.1 3850 0.13 3920 0.2 Brownies 100 130 180 10
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