The monthly market basket for consumers consists of pizza, t-shirts, and rent.
The table below shows market basket quantities and prices for the base yearâ (Year 1) and in the following two years.
Product
Base Yearâ (Year 1)
Quantity
Price in the
Base Year
Price in
Year 2
Price in
Year 3
Pizza
15
$3.50
$4.38
$4.55
T-Shirts
2
$10.00
$9.00
$8.50
Rent
1
$400.00
$440.00
$520.00
The inflation rate between Year 1 and Year 2 is
nothing %.
(Round both answers to one decimal place.)
The inflation rate between Year 1 and Year 2 is ___ %
The inflation rate between Year 2 and Year 3 is _____%
The monthly market basket for consumers consists of pizza, t-shirts, and rent.
The table below shows market basket quantities and prices for the base yearâ (Year 1) and in the following two years.
|
Product |
Base Yearâ (Year 1) Quantity |
Price in the Base Year |
Price in Year 2 |
Price in Year 3 |
|
Pizza |
15 |
$3.50 |
$4.38 |
$4.55 |
|
T-Shirts |
2 |
$10.00 |
$9.00 |
$8.50 |
|
Rent |
1 |
$400.00 |
$440.00 |
$520.00 |
The inflation rate between Year 1 and Year 2 is
nothing %.
(Round both answers to one decimal place.)
The inflation rate between Year 1 and Year 2 is ___ %
The inflation rate between Year 2 and Year 3 is _____%
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Related questions
The monthly market basket for consumers consists of pizza, t-shirts, and rent.
The table below shows market basket quantities and prices for the base year (Year 1) and in the following year.
|
Product |
Base Year (Year 1) Quantity |
Price in the Base Year |
Price in Year 2 |
|
Pizza |
10 |
$3.00 |
$3.75 |
|
T-Shirts |
4 |
$10.00 |
$9.00 |
|
Rent |
1 |
$450.00 |
$495.00 |
In Year 1, the CPI for the economy is _____?
(Round
both answers to one decimal
place.)
In Year 2, the CPI for this economy is ______?
Three goods are consumed in an economy during years 1 and 2. The table shows prices (P1 and P2) for each good, and it shows the market basket that is used to calculate the consumer price index. The base year is year 1.
|
Good |
P1 |
P2 |
Basket |
|
Milk (gallons) |
$4 |
$4.20 |
4 |
|
Chicken (pounds) |
$5 |
$5.50 |
10 |
|
Onions (bags) |
$2 |
$2.32 |
1 |
Enter numbers in each blank, rounded to two decimal places as necessary. The cost of the basket in year 1 is $____ and the cost of the basket in year 2 is $_____. The value of the CPI in year 1 is _____ and the value of the CPI in year 2 is ______. The inflation rate is equal to ______%.
