Year CPI Year CPI 1995 152.4 2010 218.1 1996 156.9 2011 224.9 1997 160.5 2012 229.6 1998 163.0 2013 233.0 1999 166.6 2014 236.7 2000 172.2 2015 237.0 2001 177.1 2016 240.0 2002 179.7 2017 245.1 2003 184.0 2018 251.1 2004 188.9 2019 255.7 2005 195.3 2020 258.8 2006 201.6 2021 271.0 2007 207.3 2022 292.1 2008 215.3 2009 214.5 a. Calculate the inflation rate for 2007-2008: 0.0 % 2008-2009: 2.5 % 2020-2021: 1.2 % 2021-2022: 4.7 % b, c. Which years had inflation? Which years had deflation? In 2007-2008, there was deflation In 2008-2009, there was inflation In 2020-2021, there was inflation In 2021-2022, there was inflation
Year CPI Year CPI 1995 152.4 2010 218.1 1996 156.9 2011 224.9 1997 160.5 2012 229.6 1998 163.0 2013 233.0 1999 166.6 2014 236.7 2000 172.2 2015 237.0 2001 177.1 2016 240.0 2002 179.7 2017 245.1 2003 184.0 2018 251.1 2004 188.9 2019 255.7 2005 195.3 2020 258.8 2006 201.6 2021 271.0 2007 207.3 2022 292.1 2008 215.3 2009 214.5 a. Calculate the inflation rate for 2007-2008: 0.0 % 2008-2009: 2.5 % 2020-2021: 1.2 % 2021-2022: 4.7 % b, c. Which years had inflation? Which years had deflation? In 2007-2008, there was deflation In 2008-2009, there was inflation In 2020-2021, there was inflation In 2021-2022, there was inflation
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter5: Business And Economic Forecasting
Section: Chapter Questions
Problem 1.6CE: Estimate the double-log (log linear) time trend model for log cruise ship arrivals against log time....
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Transcribed Image Text:Year
CPI
Year
CPI
1995
152.4
2010
218.1
1996
156.9
2011
224.9
1997
160.5
2012
229.6
1998
163.0
2013
233.0
1999
166.6
2014
236.7
2000
172.2
2015
237.0
2001
177.1
2016
240.0
2002
179.7
2017
245.1
2003
184.0
2018
251.1
2004
188.9
2019
255.7
2005
195.3
2020
258.8
2006
201.6
2021
271.0
2007
207.3
2022
292.1
2008
215.3
2009
214.5

Transcribed Image Text:a. Calculate the inflation rate for
2007-2008:
0.0 %
2008-2009:
2.5 %
2020-2021:
1.2 %
2021-2022:
4.7 %
b, c. Which years had inflation? Which years had deflation?
In 2007-2008, there was deflation
In 2008-2009, there was inflation
In 2020-2021, there was inflation
In 2021-2022, there was inflation
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