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3 / c A typical consumer basket consists of the following: Year 1 Year 2 Item Q P Q P clothes 4 1 5 2

3 / c

A typical consumer basket consists of the following: Year 1 Year 2 Item Q P Q P clothes 4 1 5 2 food 15 1.5 16 1 rent 1 50 1 52 T/F: the inflation rate between year 1 and 2 is 1.5% O True O False

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