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ECON MACRO 5th Edition by William McEachern
Edition 5ISBN: 978-1305659094ECON MACRO 5th Edition by William McEachern
Edition 5ISBN: 978-1305659094 Exercise 9
Define a price index and explain why is it useful
(Consumer Price Index) Given the following data, what was the value of the consumer price index in the base year? Calculate the annual rate of consumer price inflation in 2015 in each of the following situations:
a. The CPI equals 200 in 2014 and 240 in 2015.
b. The CPI equals 150 in 2014 and 175 in 2015.
c. The CPI equals 325 in 2014 and 340 in 2015.
d. The CPI equals 325 in 2014 and 315 in 2015.
(Consumer Price Index) Given the following data, what was the value of the consumer price index in the base year? Calculate the annual rate of consumer price inflation in 2015 in each of the following situations:
a. The CPI equals 200 in 2014 and 240 in 2015.
b. The CPI equals 150 in 2014 and 175 in 2015.
c. The CPI equals 325 in 2014 and 340 in 2015.
d. The CPI equals 325 in 2014 and 315 in 2015.
Explanation
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For each of the four situations given, t...
ECON MACRO 5th Edition by William McEachern
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