Table 9-6

-Refer to Table 9-6.Consider the following values of the consumer price index for 1996,1997,and 1998: The inflation rate for 1997 was equal to

Question

Table 9-6
 
-Refer to Table 9-6.Consider the following values of the consumer price index for 1996,1997,and 1998: The inflation rate for 1997 was equal to

Quizplus · Accepted Answer

The inflation rate for a given year is calculated as [(CPI this year - CPI last year) / CPI last year] * 100%. Without the specific CPI values for 1996, 1997, and 1998 provided in the question, the correct answer cannot be directly calculated. However, based on the options given, if the correct answer is C) 2.5 percent, it implies that the calculation based on the CPI values for 1996 and 1997 leads to this percentage increase.

Table 9-6 -Refer to Table 9-6.Consider the Following Values of the Consumer