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Refer to Table 3. Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the value for this economy’s inflation rate between year 1 and year 2 is A) -6.1%. B) -5.5%. C) 6.5%. D) 79%.

Refer to Table 3. Assume that this economy produces only two goods Good X and Good Y. If year 1 is the base year, the value for this economy’s inflation rate between year 1 and year 2 is A) -6.1%. B) -5.5%. C) 6.5%. D) 79%.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Refer to Table 3. Assume that this economy produces only two goods Good X and Good
Y. If year 1 is the base year, the value for this economy’s inflation rate between year 1 and
year 2 is
A) -6.1%.
B) -5.5%.
C) 6.5%.
D) 79%.

Table 3 Production Prices Year 1 Year 2 Year 3 Year 1 Year 2 Year 3 Good X 60 80 100 $1.00 $1.00 $1.40 Good Y 100 110 130 $0.80 $0.90 $1.00
Transcribed Image Text:Table 3 Production Prices Year 1 Year 2 Year 3 Year 1 Year 2 Year 3 Good X 60 80 100 $1.00 $1.00 $1.40 Good Y 100 110 130 $0.80 $0.90 $1.00
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