QUESTION 19 The production and prices in a country in two subsequent years are described by the following table Year 1 Year 2 Good Quantity 60 Price Quantity Price $1.00 Apples Oranges 55 40 $1.00 45 y Where x is $0.9 and y is $1.41. What is the inflation rate according to the CPI (using year 1 as the base year) in percent terms? (Submit your answer with up to two decimals, i.e., -10.22 for -10.22% and 11.44 for 11.442%.)
QUESTION 19 The production and prices in a country in two subsequent years are described by the following table Year 1 Year 2 Good Quantity 60 Price Quantity Price $1.00 Apples Oranges 55 40 $1.00 45 y Where x is $0.9 and y is $1.41. What is the inflation rate according to the CPI (using year 1 as the base year) in percent terms? (Submit your answer with up to two decimals, i.e., -10.22 for -10.22% and 11.44 for 11.442%.)
Chapter1: Making Economics Decisions
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![QUESTION 19
The production and prices in a country in two subsequent years are described by the following table
Year 1
Year 2
Good
Apples
Oranges
Where x is $0.9 and y is $1.41. What is the inflation rate according to the CPI (using year 1 as the base year) in percent terms? (Submit your answer with up to two
decimals, i.e., -10.22 for -10.22% and 11.44 for 11.442%.)
Quantity
Price
$1.00
Quantity
Price
60
55
40
$1.00
45
y](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1bb2659d-859c-4998-aa40-0c739e4d3a5e%2F1599b749-b5bb-4631-a6e8-48fc537111bf%2Fn1tldkg_processed.jpeg&w=3840&q=75)
Transcribed Image Text:QUESTION 19
The production and prices in a country in two subsequent years are described by the following table
Year 1
Year 2
Good
Apples
Oranges
Where x is $0.9 and y is $1.41. What is the inflation rate according to the CPI (using year 1 as the base year) in percent terms? (Submit your answer with up to two
decimals, i.e., -10.22 for -10.22% and 11.44 for 11.442%.)
Quantity
Price
$1.00
Quantity
Price
60
55
40
$1.00
45
y
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