The tables show the quantities of the goods that Harry bought and the prices he paid during two consecutive weeks. Harry's CPI market basket contains the goods he bought in Week 1. Calculate Harry's CPI in Week 2. What was his inflation rate in Week 2? Harry's CPI in Week 2 is. >>> Answer to 1 decimal place. Week 1 Item Coffee iTunes songs Gasoline Week 2 Item Coffee iTunes songs Gasoline Quantity 5 cups 5 10 gallons Quantity 4 cups 10 10 gallons Price (per unit) $3.00 $1.00 $2.00 Price (per unit) $3.25 $1.00 $3.00

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations
Section: Chapter Questions
Problem 17P
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The tables show the quantities of the goods that Harry bought and the
prices he paid during two consecutive weeks.
Harry's CPI market basket contains the goods he bought in Week 1.
Calculate Harry's CPI in Week 2. What was his inflation rate in Week 2?
Harry's CPI in Week 2 is
>>> Answer to 1 decimal place.
Week 1
Item
Coffee
iTunes songs
Gasoline
Week 2
Item
Coffee
iTunes songs
Gasoline
Quantity
5 cups
5
10 gallons
Quantity
4 cups
10
10 gallons
Price
(per unit)
$3.00
$1.00
$2.00
Price
(per unit)
$3.25
$1.00
$3.00
Transcribed Image Text:The tables show the quantities of the goods that Harry bought and the prices he paid during two consecutive weeks. Harry's CPI market basket contains the goods he bought in Week 1. Calculate Harry's CPI in Week 2. What was his inflation rate in Week 2? Harry's CPI in Week 2 is >>> Answer to 1 decimal place. Week 1 Item Coffee iTunes songs Gasoline Week 2 Item Coffee iTunes songs Gasoline Quantity 5 cups 5 10 gallons Quantity 4 cups 10 10 gallons Price (per unit) $3.00 $1.00 $2.00 Price (per unit) $3.25 $1.00 $3.00
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