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2b. In 2000, the value of the Consumer Price Index was 171.20 and the price of gasoline (per gallon) was $1.56. Six years later in 2006, the value of the Consumer Price Index was 200.43 and the price of gasoline (per gallon) was $2.56. What was the specific inflation rate for gasoline during this period? Edit Format Table

2b. In 2000, the value of the Consumer Price Index was 171.20 and the price of gasoline (per gallon) was $1.56. Six years later in 2006, the value of the Consumer Price Index was 200.43 and the price of gasoline (per gallon) was $2.56. What was the specific inflation rate for gasoline during this period? Edit Format Table

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Answer ASAP please write the formula used please.
2b. In 2000, the value of the Consumer Price Index was 171.20 and the price of gasoline (per gallon) was $1.56. Six years later in 2006, the value of the Consumer Price Index was 200.43 and the price of gasoline (per gallon) was $2.56. What was the specific inflation rate for gasoline during this period? Edit Format Table 12pt v Paragraph v BIUA
Transcribed Image Text:2b. In 2000, the value of the Consumer Price Index was 171.20 and the price of gasoline (per gallon) was $1.56. Six years later in 2006, the value of the Consumer Price Index was 200.43 and the price of gasoline (per gallon) was $2.56. What was the specific inflation rate for gasoline during this period? Edit Format Table 12pt v Paragraph v BIUA
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