ECON MACRO (with MindTap Printed Access Card) (New, Engaging Titles from 4LTR Press)
6th Edition
ISBN: 9781337408738
Author: William A. McEachern
Publisher: Cengage Learning
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Chapter 7, Problem 7P
To determine
Inflation, deflation, Hyperinflation and disinflation during subsequent years.
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Students have asked these similar questions
The following table shows a person's nominal and real wages for three years, as well as the price level (price index) for each
year, using the first year as the base year. Fill in the blanks in the table. Then calculate the annual inflation rate for each year
(not including the base year).
Instructions: Round your answers to 2 decimal places.
Nominal Wage ($)
Real Wage ($)
Inflation Rate (%)
Year
Price Level
1
7.00
140
5.00
2.
9.00
7.00
150.00
3
11
160.00
7.50
YEAR 2019 2018 2017 2016
CPI 213.8 212.2 202.6 200.2
Use the table to Calculate the inflation rate for the year 2018.
Does the inflation rate you calculated above fall into the South Africainflation target?
please help
2) Measuring Inflation-35 points
Using the Vulcan CPI information in Table 2, calculate the inflation rate for each year, only if possible. (Show all work in
context.)
Table 2
1810
1811
1812
1813
1814
1815
CPI
178.402
192.709
206.803
209.553
212.593 216.694
|(1776=100)
Chapter 7 Solutions
ECON MACRO (with MindTap Printed Access Card) (New, Engaging Titles from 4LTR Press)
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