
Krugman's Economics For The Ap® Course
3rd Edition
ISBN: 9781319113278
Author: David Anderson, Margaret Ray
Publisher: Worth Publishers
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Question
Chapter 15, Problem 3CYU
To determine
The question requires us to determine the value of the inflation rate between year 1 and year 2.
Expert Solution & Answer

Explanation of Solution
From part 1,
Consumer price index in year 2 = 218.056
Insert these values in the inflation formula:
The inflation rate between year 1 and year 2 is 1.640 percent.
Economics Concept Introduction
The inflation rate formula in terms of
Chapter 15 Solutions
Krugman's Economics For The Ap® Course
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