Q2 The table below shows the nominal price of bananas. In 2022 the nominal price was $0.64 and the CPI was 292.6125Year198019811982198319841985Price/pound$0.34What was the inflation rate in the economy in 1981?OA. 3.16%B. 4.37%OC. 10.38%D. 6.16%$0.36$0.35$0.39$0.36$0.37CPI82.38390.93396.53399.583103.933107.600

CPI is the consumer price index. CPI is calculated as the cost of basket in current year market…

The table below shows the nominal price of bananas. In 2022 the nominal price was $0.64 and the CPI was 292.6125 Year 1980 1981 1982 1983 1984 1985 B. 4.37% OC. 10.38% D. 6.16% Price/ pound $0.34 What was the inflation rate in the economy in 1981? OA. 3.16% $0.36 $0.35 $0.39 $0.36 $0.37 CPI 82.383 90.933 96.533 99.583 103.933 107.600

The table below shows the nominal price of bananas. In 2022 the nominal price was $0.64 and the CPI was 292.6125 Year 1980 1981 1982 1983 1984 1985 B. 4.37% OC. 10.38% D. 6.16% Price/ pound $0.34 What was the inflation rate in the economy in 1981? OA. 3.16% $0.36 $0.35 $0.39 $0.36 $0.37 CPI 82.383 90.933 96.533 99.583 103.933 107.600

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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