a nation has had higher inflation recently. Last year, a basket of goods cost 360 but this year that same basked cost 396. suppose the nation's institutions succeeded in getting inflation down 2%. what would the basket of goods cost next year? (the answer should be 367.2, but I dont know how to get there)

a nation has had higher inflation recently. Last year, a basket of goods cost 360 but this year that same basked cost 396. suppose the nation's institutions succeeded in getting inflation down 2%. what would the basket of goods cost next year? (the answer should be 367.2, but I dont know how to get there)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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