Table 16-4
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 16-4.If the base year is 2004,then the inflation rate in 2006 was

Question

Table 16-4
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 16-4.If the base year is 2004,then the inflation rate in 2006 was

Quizplus · Accepted Answer

The inflation rate is calculated as ((CPI in 2006 - CPI in 2005) / CPI in 2005) * 100%. If the base year is 2004, and assuming the CPI in 2005 and 2006 are given in Table 16-4, the calculation results in an inflation rate of 44.4%.

Table 16-4 the Table Below Pertains to Wrexington,an Economy in Which the Which