Table 6-5
The table below pertains to Napandsnack, an economy in which the typical consumer's basket consists of 2 pillows and 15 hotdogs.

-Refer to Table 6-5. If the base year is 2009, then the economy's inflation rate in 2010 is

Question

Table 6-5
The table below pertains to Napandsnack, an economy in which the typical consumer's basket consists of 2 pillows and 15 hotdogs.
 
-Refer to Table 6-5. If the base year is 2009, then the economy's inflation rate in 2010 is

Quizplus · Accepted Answer

The inflation rate is calculated as the percentage change in the CPI from one year to the next. In this case, the CPI increased from 100 in 2009 to 120 in 2010, an increase of 20%.

Table 6-5 The Table Below Pertains to Napandsnack, an Economy in Which