Concept explainers
To calculate: The year was used as the base period for the CPI, if base period for the CPI changed in
Answer to Problem 72AYU
Solution:
The year
Explanation of Solution
Given information:
The base period for the CPI changed in
Under the previous year, weight, and item structure, the CPI for
The average annual inflation rate was
Formula used:
If the rate of inflation averages
Calculation:
The CPI uses the base period
Thus, at the beginning of the year
The CPI for
By using the formula,
Taking ln on both sides
Thus, the year that was used as the base period for the CPI was about
Therefore, the year was used as the base period for the CPI is
Chapter 5 Solutions
Precalculus
Additional Math Textbook Solutions
Calculus: Early Transcendentals (3rd Edition)
Precalculus: Concepts Through Functions, A Unit Circle Approach to Trigonometry (4th Edition)
Glencoe Math Accelerated, Student Edition
Calculus, Single Variable: Early Transcendentals (3rd Edition)
University Calculus: Early Transcendentals (4th Edition)
Thomas' Calculus: Early Transcendentals (14th Edition)
- Calculus: Early TranscendentalsCalculusISBN:9781285741550Author:James StewartPublisher:Cengage LearningThomas' Calculus (14th Edition)CalculusISBN:9780134438986Author:Joel R. Hass, Christopher E. Heil, Maurice D. WeirPublisher:PEARSONCalculus: Early Transcendentals (3rd Edition)CalculusISBN:9780134763644Author:William L. Briggs, Lyle Cochran, Bernard Gillett, Eric SchulzPublisher:PEARSON
- Calculus: Early TranscendentalsCalculusISBN:9781319050740Author:Jon Rogawski, Colin Adams, Robert FranzosaPublisher:W. H. FreemanCalculus: Early Transcendental FunctionsCalculusISBN:9781337552516Author:Ron Larson, Bruce H. EdwardsPublisher:Cengage Learning