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Problem Use the following data for 2019 to answer the question: Prices That Rose Health insurance Gasoline Lettuce Cigarettes Hot dogs College tuition Bananas (%) Prices That Fell +20.5 Televisions +12.8 +7.6 Oranges +5.9 Apples +4.2 Eggs. +1.9. Peanut butter College textbooks. +0.6 Coffee Average Inflation Rate: +2.3% (%) -20.8 -6.0 -5.5 -4.8 -4.6 -3.1 -1.4

Problem Use the following data for 2019 to answer the question: Prices That Rose Health insurance Gasoline Lettuce Cigarettes Hot dogs College tuition Bananas (%) Prices That Fell +20.5 Televisions +12.8 +7.6 Oranges +5.9 Apples +4.2 Eggs. +1.9. Peanut butter College textbooks. +0.6 Coffee Average Inflation Rate: +2.3% (%) -20.8 -6.0 -5.5 -4.8 -4.6 -3.1 -1.4

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Problem 07-02 (Algo) Use the following data for 2019 to answer the question: (%) Prices That Fell +20.5 Televisions +12.8 Peanut butter +7.6 Oranges +5.9 Apples +4.2 Eggs +1.9 College textbooks +0.6 Coffee Average Inflation Rate: +2.3% Prices That Rose Health insurance Gasoline Lettuce Cigarettes Hot dogs College tuition. Bananas (%) -20.8 -6.0 -5.5 -4.8 -4.6 -3.1 -1.4 Instructions: Round your response to one decimal place. If you are entering a negative number be sure to in in front of that number. By how much did the change in the price of televisions differ from the 2019 average rate of inflation? The price of televisions fell and it differed from the 2019 rate of inflation by -18.5 %.
Transcribed Image Text:Problem 07-02 (Algo) Use the following data for 2019 to answer the question: (%) Prices That Fell +20.5 Televisions +12.8 Peanut butter +7.6 Oranges +5.9 Apples +4.2 Eggs +1.9 College textbooks +0.6 Coffee Average Inflation Rate: +2.3% Prices That Rose Health insurance Gasoline Lettuce Cigarettes Hot dogs College tuition. Bananas (%) -20.8 -6.0 -5.5 -4.8 -4.6 -3.1 -1.4 Instructions: Round your response to one decimal place. If you are entering a negative number be sure to in in front of that number. By how much did the change in the price of televisions differ from the 2019 average rate of inflation? The price of televisions fell and it differed from the 2019 rate of inflation by -18.5 %.
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