In 2019 and in​ 2020, consumers in Dexter purchased only books and pens.   The prices and quantities for 2019 and 2020 are listed in the table.   The reference base period for​ Dexter's CPI is​ 2019, and 2019 is also the year of the Consumer Expenditure Survey.   What is the inflation rate in​ 2020?   2019 2020 Item Price Quantity Price Quantity Books ​$2 3 ​$4 5 Pens ​$8 8 ​$9 6 The inflation rate in 2020 is​ _______ percent.     A. 5.0   B. 84.0   C. 120.0   D. 20.0

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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In 2019 and in​ 2020, consumers in Dexter purchased only books and pens.
 
The prices and quantities for 2019 and 2020 are listed in the table.
 
The reference base period for​ Dexter's CPI is​ 2019, and 2019 is also the year of the Consumer Expenditure Survey.
 
What is the inflation rate in​ 2020?
 
2019
2020
Item
Price
Quantity
Price
Quantity
Books
​$2
3
​$4
5
Pens
​$8
8
​$9
6
The inflation rate in 2020 is​ _______ percent.
 
 
A.
5.0
 
B.
84.0
 
C.
120.0
 
D.
20.0
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