The consumer price index was 100 in 1994 and 103.3 in 1995. Therefore, the rate of inflation in 1995 was about: O 3.3 percent O 2.8 percent O 4.4 percent 1 pts O 6 percent
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- Suppose the consumer price index (CPI) stands at 250 this year. If the inflation rate is 10 percent, then next year's CPI will equal: O 260 $260 O $275 O 275If the CPI increases from 135 in 2006 to 154 in 2007, the rate of inflation between 2006 and 2007 is: O 14.1 percent O 12.3 percent O 6.2 percent O 19.0 percentThe price index was 140 in one year and 148.4 in the next year. What was the inflation rate? 8.4 percent O 6.0 percent O 2.4 percent O 4.2 percent
- Suppose a person receives a 9% increase in pay when inflation is 8%. In this case, the nominal increase is ______________, and the real increase is If the employee overestimates the real gain, this would be an example of O 9%, 8%, price confusion O 9%, 8%, menu costs O 1%, 8%, shoe leather costs O8%, 1%, sticky wages O9%, 1%, employee misperceptions 1Question 3 1. Suppose that inflation is 5% between years 1 and 2. Now suppose your hourly wage is $20/hour. What will your wage have to be for your real wage to stay the same from year 1 to year 2? O 20.10 O 30 O 25.75 O 21Suppose that the consumer price index at year-end 2008 was 140 and by year-end 2009 had risen to 154. What was the inflation rate during 2009? 7.1 percent 10 percent O 14.2 percent O 9.1 percent
- Suppose the consumer price index (CPI) accurately measures inflation, and: In 1983 the CPI in the Land of Oz was 100; at the end of 2002, the CPI was 111.1. If the CPI at the end of 2003 was 113.2, then the rate of inflation (or deflation) in 2003 was and the average annual compounded rate of inflation between 1983 and 2003 was O a. 1.86%; 0.62% O b. 1.89%; 0.62% O c. 1.86%; 1.25% O d. 1.89%; 1.25% Next pageIn 2018, nominal gross domestic product (GDP) in the United States grew 5.2%. However, inflation was 2.4%. What was the real GDP growth rate O 0,5% 7.7% O 2.8% O 2.2%The following table shows some values of the Consumer Price Index and the corresponding inflation rates for 2012-2015. Year CPI Inflation Rate 2012 229.6 2.1% 2013 233.0 2014 1.6% 2015 237.0 0.1% The value of the Consumer Price Index in 2014 was approximately. Select one: O a. 234.6 O b. 235.0 O c. 246.9 O d. 236.7
- Assume that John has a car loan with a nominal interest rate of 4%. If the actual inflation rate is 3%, then the real rate is 3% 4% O 7% O 1%"If the consumer price index was 102 in the base year and 117 in the following year, the inflation rate was" O 15 percent. 14.7 percent. 7 percent. O 1.07 percent.In 2008 the price index was calculated at 137.9 with 2003 as the base year. In 2009 the price index increased to 148.7. What was the inflation from 2008-2009? O 7.8% O 7.3% O 10.8%