2. a. In an economy, the CPI went from 150 in 2014 to 130 in 2015. Did this economy have inflation or deflation between 2014 and 2015 (circle one)? INFLATION DEFLATION b. What was the rate of inflation or deflation during that time? Show your work for full credit.
2. a. In an economy, the CPI went from 150 in 2014 to 130 in 2015. Did this economy have inflation or deflation between 2014 and 2015 (circle one)? INFLATION DEFLATION b. What was the rate of inflation or deflation during that time? Show your work for full credit.
Principles of Economics (MindTap Course List)
8th Edition
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter24: Measuring The Cost Of Living
Section: Chapter Questions
Problem 3PA
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