Question
An economy has only 2 goods, Good A and Good B. The typical bundle consumed in 2019 (the base year) was 12 units of Good
An economy has only 2 goods, Good A and Good B. The typical bundle consumed in 2019 (the base year) was 12 units of Good A and 20 units of Good B. In 2019, prices were $6 per unit of Good A and $4 per unit of Good B. In 2020, prices were $6 per unit of Good A and $6 per unit of Good B. In 2021, prices were $8 per unit of Good A and $6 per pound of Good B.
What is the CPI for 2019?
What is the CPI for 2020?
What is the CPI for 2021?
What is the rate of inflation between 2020 and 2021?
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Foundations of Business
Authors: William M. Pride, Robert J. Hughes, Jack R. Kapoor
6th edition
1337386928, 9781337670975 , 978-1337386920
