In 2004 the price of 500 grams of bacon in Canada was $5.02 and in 2020 it was $7.25. If the CPI (2002=100) increased from 104.7 to 137.0 over this period, the real percentage change in price was Select one: A. 7.89% B. 10.37% OC. 44.42% D. 8.23%

In 2004 the price of 500 grams of bacon in Canada was $5.02 and in 2020 it was $7.25. If the CPI (2002=100) increased from 104.7 to 137.0 over this period, the real percentage change in price was Select one: A. 7.89% B. 10.37% OC. 44.42% D. 8.23%

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter7: Unemployment And Inflation

Section: Chapter Questions

Problem 7E

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Question

In 2004 the price of 500 grams of bacon in Canada was $5.02 and in 2020 it was $7.25. If the CPI
(2002=100) increased from 104.7 to 137.0 over this period, the real percentage change in price was
4
Select one:
A.
7.89%
O B.
10.37%
Oc.
44.42%
OD.
8.23%

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