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Table 1 The table below applies to an economy with only two goods- hamburgers and hot dogs. The fixed consists of 4 hamburgers and 8 hot dogs. Price of hamburgers $5.00 Year Price of hot dogs 2009 $3.00 2010 5.50 3.30 2011 5.61 3.63 8) Refer to Table 1. If the base year is 2009, then the economy's inflation rate is 10 percent in 2010 and 6.36 percent in 2011. 10 percent in 2010 and 17 percent in 2011. 9.2 percent in 2010 and 6 percent in 2011. 8.22 percent in 2010 and 5 percent in 2011. a. b. с. d.

Table 1 The table below applies to an economy with only two goods- hamburgers and hot dogs. The fixed consists of 4 hamburgers and 8 hot dogs. Price of hamburgers $5.00 Year Price of hot dogs 2009 $3.00 2010 5.50 3.30 2011 5.61 3.63 8) Refer to Table 1. If the base year is 2009, then the economy's inflation rate is 10 percent in 2010 and 6.36 percent in 2011. 10 percent in 2010 and 17 percent in 2011. 9.2 percent in 2010 and 6 percent in 2011. 8.22 percent in 2010 and 5 percent in 2011. a. b. с. d.

Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter22: Money Growth And Inflation
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Table 1 The table below applies to an economy with only two goods - hamburgers and hot dogs. The fixed basket consists of 4 hamburgers and 8 hot dogs. Price of hot dogs Price of hamburgers $5.00 Year 2009 $3.00 2010 5.50 3.30 2011 5.61 3.63 8) Refer to Table 1. If the base year is 2009, then the economy's inflation rate is 10 percent in 2010 and 6.36 percent in 2011. 10 percent in 2010 and 17 percent in 2011. 9.2 percent in 2010 and 6 percent in 2011. 8.22 percent in 2010 and 5 percent in 2011. a. b. с. d. 9) Refer to Table 1. If the base year is 2010, then the consumer price index is 100 in 2009, 109 in 2010, and 115 in 2011. 95.90 in 2009, 100 in 2010, and 107.44 in 2011. а. b. 90.91 in 2009, 100 in 2010, and 106.36 in 2011. 88.82 in 2009, 100 in 2010, and 107.44 in 2011. C. d. 10) Refer to Table 1. If the base year is 2010, then the economy's inflation rate in 2010 is 8 percent. 10 percent. 10.91 percent. 11.11 percent. а. b. C. d.
Transcribed Image Text:Table 1 The table below applies to an economy with only two goods - hamburgers and hot dogs. The fixed basket consists of 4 hamburgers and 8 hot dogs. Price of hot dogs Price of hamburgers $5.00 Year 2009 $3.00 2010 5.50 3.30 2011 5.61 3.63 8) Refer to Table 1. If the base year is 2009, then the economy's inflation rate is 10 percent in 2010 and 6.36 percent in 2011. 10 percent in 2010 and 17 percent in 2011. 9.2 percent in 2010 and 6 percent in 2011. 8.22 percent in 2010 and 5 percent in 2011. a. b. с. d. 9) Refer to Table 1. If the base year is 2010, then the consumer price index is 100 in 2009, 109 in 2010, and 115 in 2011. 95.90 in 2009, 100 in 2010, and 107.44 in 2011. а. b. 90.91 in 2009, 100 in 2010, and 106.36 in 2011. 88.82 in 2009, 100 in 2010, and 107.44 in 2011. C. d. 10) Refer to Table 1. If the base year is 2010, then the economy's inflation rate in 2010 is 8 percent. 10 percent. 10.91 percent. 11.11 percent. а. b. C. d.
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