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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What has been a typical range of inflation in the U.S. economy in the last decade or so?

To determine

The range of inflation in the U.S. economy in the last decade is to be determined.

Explanation

In the past, inflation has been comparatively low in the US economy. Keeping Consumer Price Index in mind, which keeps on rising every year from 2% to 4%, inflation rate has settled to around 1.3% in the last decade (2016).

In the 20th century especially during the years post World Wars I and II and in the 1970s, there hav...

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