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Government survey takers noted the following prices each year for the listed items. Items 2016 2017 2018 Pizza $10 $20 $20 Cell Phone Service $90 $180 $180 Crude Oil (barrel) $90 $180 $90 a. Calculate the percentage increase in PPI from the base year, 2016 to 2017.

Government survey takers noted the following prices each year for the listed items. Items 2016 2017 2018 Pizza $10 $20 $20 Cell Phone Service $90 $180 $180 Crude Oil (barrel) $90 $180 $90 a. Calculate the percentage increase in PPI from the base year, 2016 to 2017.

Exploring Economics
Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations
Section: Chapter Questions
Problem 19P
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Government survey takers noted the following prices each year for the listed items. Items 2016 2017 2018 Pizza $10 $20 $20 Cell Phone Service $90 $180 $180 Crude Oil (barrel) $90 $180 $90 а. Calculate the percentage increase in PPI from the base year, 2016 to 2017. b. Calculate the percentage increase in CPI from the base year, 2017 to 2018. С. What is likely to happen to CPI if the unemployment rate continues to decline
Transcribed Image Text:Government survey takers noted the following prices each year for the listed items. Items 2016 2017 2018 Pizza $10 $20 $20 Cell Phone Service $90 $180 $180 Crude Oil (barrel) $90 $180 $90 а. Calculate the percentage increase in PPI from the base year, 2016 to 2017. b. Calculate the percentage increase in CPI from the base year, 2017 to 2018. С. What is likely to happen to CPI if the unemployment rate continues to decline
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