b. The price of a product was $0.88 in the year 2008 and $1.28 in the year 2018. What is the average annual inflation rate for this product? (ANSWER CHOICES: 3.82 % or 3.68 % or 3. 98% or 3.42%) c. If the CPI for January 2008 is 208.837 and the CPI for December 2018 is 255.539, what is the average annual inflation rate (per year) from Jan 2008 to Dec 2018? (Hint: Calculate monthly inflation rate and then use annual effective interest rate) (ANSWER CHOICES: 1.75% or 1.85% or 1.95% or 1.65%)
b. The price of a product was $0.88 in the year 2008 and $1.28 in the year 2018. What is the average annual inflation rate for this product? (ANSWER CHOICES: 3.82 % or 3.68 % or 3. 98% or 3.42%) c. If the CPI for January 2008 is 208.837 and the CPI for December 2018 is 255.539, what is the average annual inflation rate (per year) from Jan 2008 to Dec 2018? (Hint: Calculate monthly inflation rate and then use annual effective interest rate) (ANSWER CHOICES: 1.75% or 1.85% or 1.95% or 1.65%)
Chapter7: Unemployment And Inflation
Section: Chapter Questions
Problem 3.7P
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b. The price of a product was $0.88 in the year 2008 and $1.28 in the year 2018. What is the average annual inflation rate for this product?
(ANSWER CHOICES: 3.82 % or 3.68 % or 3. 98% or 3.42%)
c. If the
(ANSWER CHOICES: 1.75% or 1.85% or 1.95% or 1.65%)
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