Year Price of Pizza Price of Beer 2010 $10 $15 2011 $12 $16 2012 $14 $17 Table 2. Let 2010 be the base year Use the following market basket: 100 pizzas 300 cases of beer Refer to Table 2. What if the rate of inflation between 2011 and 2012? Question 25 options

Year Price of Pizza Price of Beer 2010 $10 $15 2011 $12 $16 2012 $14 $17 Table 2. Let 2010 be the base year Use the following market basket: 100 pizzas 300 cases of beer Refer to Table 2. What if the rate of inflation between 2011 and 2012? Question 25 options

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter22: Inflation

Section: Chapter Questions

Problem 33P: The index number representing the price level changes from 110 to 115 in one year and then from 115...

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Question

Year	Price of Pizza	Price of Beer
2010	$10	$15
2011	$12	$16
2012	$14	$17

Table 2. Let 2010 be the base year

Use the following market basket:
100 pizzas
300 cases of beer

Refer to Table 2. What if the rate of inflation between 2011 and 2012?

Question 25 options:

7.49%

8.26%

3.21%

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