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 one decimal place. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Year Gasoline price ($/gallon) Percent change in gasoline price CPI Inflation Change in relative price of gasoline 2010 $0.80 — 1.60 — — 2011 $1.00 % 1.80 % % 2012 $1.25 % 2.00 % % 2013 $1.65 % 2.04 % % 2014 $1.70 % 2.21 % % 2015 $1.87 % 2.25 % %
The table below gives the CPI and the price of gasoline per gallon in the fictitious country "Alpha" between 2010 and 2015. For each year find the percent change in the price of gasoline from the previous year's price, the CPI inflation rate, and the change in the relative price of gasoline. Instructions: Enter your responses rounded to one decimal place. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Year Gasoline price ($/gallon) Percent change in gasoline price CPI Inflation Change in relative price of gasoline 2010 $0.80 — 1.60 — — 2011 $1.00 % 1.80 % % 2012 $1.25 % 2.00 % % 2013 $1.65 % 2.04 % % 2014 $1.70 % 2.21 % % 2015 $1.87 % 2.25 % %
Chapter7: Inflation
Section: Chapter Questions
Problem 17SQ
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The table below gives the
Instructions: Enter your responses rounded to one decimal place. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers.
| Year | Gasoline price ($/gallon) | Percent change in gasoline price | CPI | Inflation | Change in relative price of gasoline |
| 2010 | $0.80 | — | 1.60 | — | — |
| 2011 | $1.00 | % | 1.80 | % | % |
| 2012 | $1.25 | % | 2.00 | % | % |
| 2013 | $1.65 | % | 2.04 | % | % |
| 2014 | $1.70 | % | 2.21 | % | % |
| 2015 | $1.87 | % | 2.25 | % | % |
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ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning
