PRINCIPLES OF MACROECONOMICS(LOOSELEAF)
7th Edition
ISBN: 9781260110920
Author: Frank
Publisher: MCG
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Question
Chapter 6, Problem 6.4CC
To determine
Calculate the inflation rate.
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Calculate the inflation rate experienced in 2014 and 2015 based on the CPI for each year below:
Here are values of the CPI (multiplied by 100) for each year from 2000 to 2010. For each year beginning with 2001, calculate the rate of inflation from the previous year.
Year
CPI
Inflation Rate (%)
2000
133.7
2001
139.2
2002
143.3
2003
147.5
2004
151.2
2005
155.4
2006
159.9
2007
163.5
2008
166
2009
169.6
2010
175.2
At the end of 1989, the consumer price index was 105. At the end of 1990, the CPI was 110. Calculate the inflation rate between these two periods.
Chapter 6 Solutions
PRINCIPLES OF MACROECONOMICS(LOOSELEAF)
Ch. 6 - Prob. 1RQCh. 6 - Prob. 2RQCh. 6 - Prob. 3RQCh. 6 - Prob. 4RQCh. 6 - Prob. 5RQCh. 6 - Prob. 6RQCh. 6 - Prob. 7RQCh. 6 - Prob. 8RQCh. 6 - Prob. 1PCh. 6 - Prob. 2P
Ch. 6 - Prob. 3PCh. 6 - Prob. 4PCh. 6 - Prob. 5PCh. 6 - Prob. 6PCh. 6 - Prob. 7PCh. 6 - Prob. 8PCh. 6 - Prob. 9PCh. 6 - Prob. 10PCh. 6 - Prob. 6.1CCCh. 6 - Prob. 6.2CCCh. 6 - Prob. 6.3CCCh. 6 - Prob. 6.4CCCh. 6 - Prob. 6.5CCCh. 6 - Prob. 6.6CCCh. 6 - Prob. 6.7CCCh. 6 - Prob. 6.8CCCh. 6 - Prob. 6.9CC
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- The following table shows the typical market basket consumed in an economy as well as data on price for years 2001 to 2003. Use this table to calculate the inflation rate between 2001 and 2002. 2003 is the base year. Price in year Price in year Price in Year Items Quantities 2001 2002 2003 Pizza $10 $20 $0.50 $12 $25 $0.55 $11 $26 $1 10 T-shirts 10 Candy 100arrow_forwardIn 2022, the CPI for a particular country was 180.0. In 2023, the CPI increased to 195.5. Assuming the base year was set at 2010 with a CPI of 100, calculate the inflation rate between 2022 and 2023.arrow_forwardThe CPI was 145 in one year and 153 in the following year. What was the inflation rate between the two years?arrow_forward
- Name Owner File size Location 5. In December 2023, the CPI-U for all items was 306.746. Five years earlier, in December 2018, the CPI-U was 251.233. What was the percentage increase in the CPI-U during those five years?arrow_forwardThe CPI in year 1 is 125, in year 2 is 130, and in year 3 is 135. What is the inflation rate in each of the years?arrow_forwardCalculate the rate of inflation if the CPI for 2016 is 147 and the CPI for 2017 is 154arrow_forward
- Below is a list of annual CPI values for the years 2000-2003. Using these values please calculate the average annual rate of inflation over this period. Table Year CPI 2000 200.2 2001 205.6 2002 208.2 2003 209.1 4.45% 1.46% 2.97%arrow_forwardBell-land's CPI for 2017 was 200. The CPI for 2016 was 190 and for 2015 the CPI was 180. What was the inflation rate for 2017?arrow_forwardThe CPI (using a 2020 base year) for 2000 is 65.0. Suppose a household's annual take-home pay in 2000 was $48,500. What would be an equivalent take-home pay in 2020?arrow_forward
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