The table below gives the CPI and the price of gasoline per gallon in the fictitious country "Alpha" between 2010 and 2015. For each year find the percent change in the price of gasoline from the previous year's price, the CPI inflation rate, and the change in the relative price of gasoline. Instructions: Enter your responses rounded to two decimal places for change in gasoline price and inflation, and one decimal place for percent values in the relative price change. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Year 2010 2011 2012 2013 2014 2015 Gasoline price ($/gallon) $ 2.25 $ 2.35 $ 2.49 $ 2.60 $2.72 $2.86 Percent change in gasoline price 4.44 % 5.95 % 4.41 % 4.61 % 5.14 % CPI 2.25 2.28 2.34 2.38 2.42 2.70 Inflation % % % ae Change in relative price of gasoline % |se|ae|se|ae % %
The table below gives the CPI and the price of gasoline per gallon in the fictitious country "Alpha" between 2010 and 2015. For each year find the percent change in the price of gasoline from the previous year's price, the CPI inflation rate, and the change in the relative price of gasoline. Instructions: Enter your responses rounded to two decimal places for change in gasoline price and inflation, and one decimal place for percent values in the relative price change. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Year 2010 2011 2012 2013 2014 2015 Gasoline price ($/gallon) $ 2.25 $ 2.35 $ 2.49 $ 2.60 $2.72 $2.86 Percent change in gasoline price 4.44 % 5.95 % 4.41 % 4.61 % 5.14 % CPI 2.25 2.28 2.34 2.38 2.42 2.70 Inflation % % % ae Change in relative price of gasoline % |se|ae|se|ae % %
Chapter7: Unemployment And Inflation
Section: Chapter Questions
Problem 7E
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