This table indicates the historical level of the Consumer Price Index (CPI) for the United States for 1972, 1973, and 1974. Complete the table by (1) selecting the inflation rates for 1973 and 1974, and (2) indicating for each year whether there has been inflation, deflation, or hyperinflation. Year CPI Inflation Rate Change in Price Level 1972 41.8 1973 44.4 1974 49.3 What rates of inflation for 1975 would be consistent with disinflation between 1974 and 1975? Check all that apply. 11.0% ☐ 61.0% 21.0% 10.9% What rates of inflation for 1975 would be consistent with hyperinflation? Check all that apply. 30.1% 120.1% -100.1% 100.1%
This table indicates the historical level of the Consumer Price Index (CPI) for the United States for 1972, 1973, and 1974. Complete the table by (1) selecting the inflation rates for 1973 and 1974, and (2) indicating for each year whether there has been inflation, deflation, or hyperinflation. Year CPI Inflation Rate Change in Price Level 1972 41.8 1973 44.4 1974 49.3 What rates of inflation for 1975 would be consistent with disinflation between 1974 and 1975? Check all that apply. 11.0% ☐ 61.0% 21.0% 10.9% What rates of inflation for 1975 would be consistent with hyperinflation? Check all that apply. 30.1% 120.1% -100.1% 100.1%
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:This table indicates the historical level of the Consumer Price Index (CPI) for the United States for 1972, 1973, and 1974.
Complete the table by (1) selecting the inflation rates for 1973 and 1974, and (2) indicating for each year whether there has been inflation, deflation, or
hyperinflation.
Year CPI Inflation Rate Change in Price Level
1972 41.8
1973 44.4
1974 49.3
What rates of inflation for 1975 would be consistent with disinflation between 1974 and 1975? Check all that apply.
☐ 11.0%
61.0%
21.0%
☐ 10.9%
What rates of inflation for 1975 would be consistent with hyperinflation? Check all that apply.
30.1%
120.1%
O-100.1%
100.1%
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