Year Peaches Fish 2016 $1.00 $2.00 2017 $2.00 $1.50 2018 $2.00 $2.00 2019 $3.00 $3.00 Shorts Milk $10.00 $1.00 $8.00 $1.50 $11.00 $14.00 $2.00 $3.00 In the country of Shem, the CPI is calculated using a market basket consisting of 5 peaches, 4kg of fish, 3 shorts, and 2 litres of milk. The per-unit prices of these goods are listed in the Table above. 11.25 percent 36.6 percent None of the values listed i -7.14 percent -5.55 percent Refer to the above Table. What was the inflation rate, as measured by the CPI, between 2016 and 2017?

Year Peaches Fish 2016 $1.00 $2.00 2017 $2.00 $1.50 2018 $2.00 $2.00 2019 $3.00 $3.00 Shorts Milk $10.00 $1.00 $8.00 $1.50 $11.00 $14.00 $2.00 $3.00 In the country of Shem, the CPI is calculated using a market basket consisting of 5 peaches, 4kg of fish, 3 shorts, and 2 litres of milk. The per-unit prices of these goods are listed in the Table above. 11.25 percent 36.6 percent None of the values listed i -7.14 percent -5.55 percent Refer to the above Table. What was the inflation rate, as measured by the CPI, between 2016 and 2017?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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K Quantity Price Price Item (2011) (2011) (2012) Salt 2 $1.00 $2.00 Bread 20 $2.50 $3.00 The data in the table above shows the consumption by families in a small (poor) economy. The families salt and bread. The reference base period is 2011. The CPI in 2012 is OA. 23.1 B. 18.8 O c. 100. 00 D. 123.1 e Time Remaining: 00:57:50
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