1. 2. The table below shows the price of the basket of goods and services for each of the following years: 2013 $85 per basket 2014 $97 per basket 2015 $102 per basket Using 2013 as the base year, calculate the consumer price index for each year Calculate the inflation rate from one year to the next.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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1.
2.
The table below shows the price of the basket of goods and
services for each of the following years:
2013
$85 per basket
2014
$97 per basket
2015
$102 per basket
Using 2013 as the base year, calculate the
consumer price index for each year
Calculate the inflation rate from one year to the
next.
Transcribed Image Text:1. 2. The table below shows the price of the basket of goods and services for each of the following years: 2013 $85 per basket 2014 $97 per basket 2015 $102 per basket Using 2013 as the base year, calculate the consumer price index for each year Calculate the inflation rate from one year to the next.
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