Consider the following price information: Year 1 Year 2 Cup of coffee $ .50 $1.00 Glass of
Question:
Consider the following price information:
Year 1 Year 2 Cup of coffee $ .50 $1.00 Glass of milk $1.00 $2.00
a. Based on the information given, what was the inflation rate between year 1 and year 2?
b. What happened to the price of coffee relative to that of milk between year 1 and year 2?
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