In 2020 and in 2021, consumers in Dexter consumed only books and pens. The prices and quantities for 2020 and 2021 are listed in the table. The reference base period for Dexter's CPI is 2020, and 2020 is also the year of the Consumer Expenditure Survey. Calculate the inflation rate in 2021. The inflation rate in 2021 is OA. 121.7 OB. 73.0 OC. 21.7 OD. 4.6 percent. ... D Item Books Pens 2020 Price Quantity $5 7 $5 5 2021 Price Quantity $4 10 $9 8
In 2020 and in 2021, consumers in Dexter consumed only books and pens. The prices and quantities for 2020 and 2021 are listed in the table. The reference base period for Dexter's CPI is 2020, and 2020 is also the year of the Consumer Expenditure Survey. Calculate the inflation rate in 2021. The inflation rate in 2021 is OA. 121.7 OB. 73.0 OC. 21.7 OD. 4.6 percent. ... D Item Books Pens 2020 Price Quantity $5 7 $5 5 2021 Price Quantity $4 10 $9 8
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter6: Measuring The Cost Of Living
Section: Chapter Questions
Problem 4QR
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