2019 and in 2020, consumers in Dexter consumed only books and pens. The prices and quantities for 2019 and 2020 are listed in the table. The reference base period for Dexter's CPI is 2019, and 2019 is also the year of the Consumer Expenditure Survey. Calculate the inflation rate in 2020. The inflation rate in 2020 is OA. 169.2 OB. 69.2 OC. 88.0 OD. 1.4 percent Item Books Pens 2019 1₁ Price Quantity $8 $4 3 7 2020 Price Quantity $6 $10 .. 9 8

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Chapter16: Measuring The Cost Of Living
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In 2019 and in 2020, consumers in Dexter consumed only books and pens.
The prices and quantities for 2019 and 2020 are listed in the table.
The reference base period for Dexter's CPI is 2019, and 2019 is also the year of the Consumer Expenditure
Survey.
Calculate the inflation rate in 2020.
The inflation rate in 2020 is
O A. 169.2
OB. 69.2
O C. 88.0
OD. 1.4
percent.
****
Item
Books
Pens
2019
Price Quantity
$8
3
$4
7
2020
Price Quantity
$6
9
$10
8
Transcribed Image Text:In 2019 and in 2020, consumers in Dexter consumed only books and pens. The prices and quantities for 2019 and 2020 are listed in the table. The reference base period for Dexter's CPI is 2019, and 2019 is also the year of the Consumer Expenditure Survey. Calculate the inflation rate in 2020. The inflation rate in 2020 is O A. 169.2 OB. 69.2 O C. 88.0 OD. 1.4 percent. **** Item Books Pens 2019 Price Quantity $8 3 $4 7 2020 Price Quantity $6 9 $10 8
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