Price Index for Macroland Year 1 140 Year 2 150 Year 3 158 Year 4 162 Price index 3. Table above provides the price index for Macroland for four years. What was the inflation rate in Macroland during year 4? a. 5.7% b. 2.5% OC4.0% O d. 15.7%

Price Index for Macroland Year 1 140 Year 2 150 Year 3 158 Year 4 162 Price index 3. Table above provides the price index for Macroland for four years. What was the inflation rate in Macroland during year 4? a. 5.7% b. 2.5% OC4.0% O d. 15.7%

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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No written by hand solution If the consumer price index was 100 in the base year and 103 in the following year, then the inflation rate was a. 3 percent b.1.03 percent c.-3 percent d. 0.3 percent
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Same table, what is inflation/deflation from 2019 to 2021 using the Deflator method? year Burkin Bag Burkin Price Nikes 2019 3 $ 100.00 Nikes Price 10 $ 125.00 2020 4 $ 200.00 11 $ 110.00 BASE YEAR 2021 2 $ 140.00 12 $ 135.00 2022 3 $ 125.00 10 $ 120.00 2023 4 $ 175.00 11 $ 150.00 O.1243 O.1373 O.1419 ○ .1528 ○ .1695 Question 6 using the same table, what is deflation/inflation from 2021 to 2022 using the deflator method? year Burkin Bag Burkin Price Nikes Nikes Price 2019 3 $ 100.00 10 $ 125.00 2020 4 $ 200.00 11 $ 110.00 BASE YEAR 2021 2 $ 140.00 12 $ 135.00 2022 3 $ 125.00 10 $ 120.00 2023 4 $ 175.00 11 $ 150.00 О -.0745 ○ -.0894 ○ -.0973 O -10.17 O-1102
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