If the CPI was 110 last year and is 121 this year, what is this years rate

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If the CPI was 110 last year and is 121 this year, what is this year’s rate of inflation? What is the “rule of 70”? How long would it take for the price level to double if inflation persisted at?
(a) 2,
(b) 5,
(c) 10 percent per year?

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Economics

ISBN: 978-0073375694

18th edition

Authors: Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn

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Question Posted: May 23, 2013 07:53 AM

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If the CPI was 110 last year and is 121 this year, what is this years rate

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This years rate of inflation is 10 or 121 110110 x 100 Dividi...View the full answer

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