In 2020 and in 2021, consumers in Dexter consumed only books and pens. The prices and quantities for 2020 and 2021 are listed in the table. The reference base period for Dexter's CPI is 2020, and 2020 is also the year of the Consumer Expenditure Survey. Calculate the inflation rate in 2021. The inflation rate in 2021 is OA. 121.7 OB. 73.0 OC. 21.7 OD. 4.6 percent. ... D Item Books Pens 2020 Price Quantity $5 7 $5 5 2021 Price Quantity $4 10 $9 8

In 2020 and in 2021, consumers in Dexter consumed only books and pens. The prices and quantities for 2020 and 2021 are listed in the table. The reference base period for Dexter's CPI is 2020, and 2020 is also the year of the Consumer Expenditure Survey. Calculate the inflation rate in 2021. The inflation rate in 2021 is OA. 121.7 OB. 73.0 OC. 21.7 OD. 4.6 percent. ... D Item Books Pens 2020 Price Quantity $5 7 $5 5 2021 Price Quantity $4 10 $9 8

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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