2. Calculating and categorizing inflation This table indicates the historical level of the Consumer Price Index (CPI) for the United States for 1921, 1922, and 1923. Complete the table by (1) selecting the inflation rates for 1922 and 1923, and (2) indicating for each year whether there has been inflation, deflation, or hyperinflation. Year CPI Inflation Rate Change in Price Level 1921 17.9 — — 1922 16.8 1923 17.1 What rates of inflation for 1924 would be consistent with disinflation between 1923 and 1924? Check all that apply. 11.8% 1.7% 1.6% 51.8% What rates of inflation for 1924 would be consistent with hyperinflation? Check all that apply. 120.0% 100.0% 15.0% -1.8%
2. Calculating and categorizing inflation This table indicates the historical level of the Consumer Price Index (CPI) for the United States for 1921, 1922, and 1923. Complete the table by (1) selecting the inflation rates for 1922 and 1923, and (2) indicating for each year whether there has been inflation, deflation, or hyperinflation. Year CPI Inflation Rate Change in Price Level 1921 17.9 — — 1922 16.8 1923 17.1 What rates of inflation for 1924 would be consistent with disinflation between 1923 and 1924? Check all that apply. 11.8% 1.7% 1.6% 51.8% What rates of inflation for 1924 would be consistent with hyperinflation? Check all that apply. 120.0% 100.0% 15.0% -1.8%
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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2. Calculating and categorizing inflation
This table indicates the historical level of the Consumer Price Index (CPI) for the United States for 1921, 1922, and 1923.
Complete the table by (1) selecting the inflation rates for 1922 and 1923, and (2) indicating for each year whether there has been inflation, deflation, or hyperinflation.
|
Year
|
CPI
|
Inflation Rate
|
Change in Price Level
|
|---|---|---|---|
| 1921 | 17.9 | — | — |
| 1922 | 16.8 | ||
| 1923 | 17.1 |
What rates of inflation for 1924 would be consistent with disinflation between 1923 and 1924? Check all that apply.
11.8%
1.7%
1.6%
51.8%
What rates of inflation for 1924 would be consistent with hyperinflation? Check all that apply.
120.0%
100.0%
15.0%
-1.8%
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