The CPI was 170 last year and is 190 this year. What is the inflation rate between these two years?
A) 10.5 percent
B) 15.0 percent
C) 11.8 percent
D) 18 percent
E) 20 percent
Correct Answer:
Verified
Q12: For the purpose of measuring the cost
Q13: The GDP deflator measures
A)the price level.
B)nominal GDP.
C)the
Q14: The CPI is reported once every
A)quarter.
B)other year.
C)year.
D)week.
E)month.
Q15: An example of the commodity substitution bias
Q16: Consumers in Beachland consume only two goods,
Q18: In 1970, the CPI was 39 and
Q19: Suppose the Bureau of Labor Statistics uses
Q20: Economists agree that the CPI
A)is a near
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