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17. Consider the following table that lists the items included in the market basket along with the quantities consumed and the per unit prices in
17. Consider the following table that lists the items included in the market basket along with the quantities consumed and the per unit prices in 2008 and 2009. Goods Quantity Prices in 2009 Prices in 2008 Bread 20 loaves $3 $2.50 Wine 5 bottles $15.00 $14 Jelly 3 jars $8 $7.50 Calculate the year-on-year inflation rate in 2009. a. 8.3 percent b. 4.52 percent c. 2.7 percent d. 6.7 percent e. 1.89 percent
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