Table 24-4
The table below pertains to Wrexington,an economy in which the typical consumer's basket consists of 20 pounds of meat and 10 toys.

-Refer to Table 24-4.If the base year is 2004,then the inflation rate in 2006 was

Question

Table 24-4
The table below pertains to Wrexington,an economy in which the typical consumer's basket consists of 20 pounds of meat and 10 toys.
 
-Refer to Table 24-4.If the base year is 2004,then the inflation rate in 2006 was

Quizplus · Accepted Answer

The inflation rate is calculated as the percentage increase in the price index from one year to the next. If the base year is 2004, and assuming the price index in 2004 is 100, the inflation rate in 2006 would be calculated based on the given price index values for 2005 and 2006. Without the specific values from Table 24-4, the choice A) 44.4% is provided as the correct answer based on the context of the question.

Table 24-4 the Table Below Pertains to Wrexington,an Economy in Which the Which