m 14:41 Use the table below to calculate the inflation rate. Year 1 2 3 Price of the Market Basket $1,868 $1,952 $2,065 Using Year 1 as a base year, what is the inflation rate in Year 2? W Multiple Choice O 4.20 percent 104.50 percent O 5.79 percent 4.50 percent zoom 73 82,244 < Prev 18 of 40 Next > A MacBook Pro N @ # $ % & 1 2 3 4 5 6 7 8
m 14:41 Use the table below to calculate the inflation rate. Year 1 2 3 Price of the Market Basket $1,868 $1,952 $2,065 Using Year 1 as a base year, what is the inflation rate in Year 2? W Multiple Choice O 4.20 percent 104.50 percent O 5.79 percent 4.50 percent zoom 73 82,244 < Prev 18 of 40 Next > A MacBook Pro N @ # $ % & 1 2 3 4 5 6 7 8
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question

Transcribed Image Text:m
14:41
Use the table below to calculate the inflation rate.
Year
1
2
3
Price of the Market Basket
$1,868
$1,952
$2,065
Using Year 1 as a base year, what is the inflation rate in Year 2?
W
Multiple Choice
O
4.20 percent
104.50 percent
O
5.79 percent
4.50 percent
zoom
73
82,244
< Prev
18 of 40
Next >
A
MacBook Pro
N
@
#
$
%
&
1
2
3
4
5
6
7
8
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