Answered: If the consumer price index and…

If the consumer price index and inflation are currently 214.9 and 8.4%/year.respectively, what was the level of the consumer price index a year ago?

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter17: Inflation

Section: Chapter Questions

Problem 5SQ

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If the consumer price index and inflation are currently 214.9 and 8.4%/year.respectively, what was the level of the consumer price index a year ago?

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The inflation rate can be calculated by using the following formula:

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