The table below shows the index numbers for the cost of a basket of goods and services in each period. Use this information to calculate the inflation rate since the previous period. Enter the answers in order starting with Period 2. (Round to two decimals.) Index Number Inflation Rate Period 1 145 - Period 2 159 Period 3 166 Provide your answer below:
The table below shows the index numbers for the cost of a basket of goods and services in each period. Use this information to calculate the inflation rate since the previous period. Enter the answers in order starting with Period 2. (Round to two decimals.) Index Number Inflation Rate Period 1 145 - Period 2 159 Period 3 166 Provide your answer below:
Chapter7: Unemployment And Inflation
Section: Chapter Questions
Problem 3.7P
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The table below shows the index numbers for the cost of a basket of goods and services in each period. Use this information to calculate the inflation rate since the previous period. Enter the answers in order starting with Period 2. (Round to two decimals.)
Index Number | Inflation Rate | |
Period 1 | 145 | - |
Period 2 | 159 | |
Period 3 | 166 |
Provide your answer below:
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Consumer price index shows the cost of a market basket of goods/services consumed by a consumer in a given year.
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