One last time, please work with data from the Isle of Woe, an admittedly-depressing nation. Its production data for three years is given below; we assume 2020 is the base year. Year Food Produced Price of Food Shelter Produced Price of Shelter Leisure Goods Produced Price of Leisure Goods 2020 400 $10 100 $80 80 $2 2021 500 $15 120 $90 80 $3 2022 550 $20 140 $100 80 $4 The average citizen in the Isle of Woe consumes 5 units of food, 2 units of shelter, and 1 unit of leisure goods each year. Using the CPI, the 2020-2021 inflation rate for this economy is ____________ percent. (Don't worry whether this is a realistic/typical inflation rate for the USA; the Isle of Woe is its own thing.)
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One last time, please work with data from the Isle of Woe, an admittedly-depressing nation. Its production data for three years is given below; we assume 2020 is the base year. Year Food Produced Price of Food Shelter Produced Price of Shelter Leisure Goods Produced Price of Leisure Goods 2020 400 $10 100 $80 80 $2 2021 500 $15 120 $90 80 $3 2022 550 $20 140 $100 80 $4 The average citizen in the Isle of Woe consumes 5 units of food, 2 units of shelter, and 1 unit of leisure goods each year. Using the
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