The accompanying table contains the values of the two price indexes for the years 2010, 2011, and 2012. The GDP deflator and the CPI. For each price index, calculate the inflation rate from 2010 and from 2011 to 2012. Year GDP deflector CPI 2010 111.0 218.1 2011 111.4 224.9 2012 115.4 229.6 If the cost of a market basket of goods increases from $100 in year 1 to $108 in year 2, what is the consumer price index in year 2 if year 1 is the base year?
The accompanying table contains the values of the two price indexes for the years 2010, 2011, and 2012. The
Year GDP deflector CPI
2010 111.0 218.1
2011 111.4 224.9
2012 115.4 229.6
If the cost of a market basket of goods increases from $100 in year 1 to $108 in year 2, what is the
- 8
- 10
- 100
- 108
- 110
If the consumer price index increases from 80 to 120 from one year to the next, the inflation rate over that time period was
- 20%
- 40%
- 50%
- 80%
- 120%
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