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Given the following: (base year 2017) Price of beef/kg Quantity of beef Price of Chicken/kg Quantity of Chicken 2017 $4 10kg $4 20kg 2018 $5
- Given the following: (base year 2017)
Price of beef/kg
Quantity of beef
Price of Chicken/kg
Quantity of Chicken
2017
$4
10kg
$4
20kg
2018
$5
10kg
$5
20kg
2019
$9
10kg
$6
20kg
- Calculate the CPI in 2017, 2018 and 2019. (9 marks)
- Calculate the inflation rate from 2017 to 2018. (3 marks)
- Calculate the inflation rate from 2018 to 2019. (3 marks)
- Calculate the inflation rate from 2017 to 2019. (3 marks)
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Environmental And Natural Resource Economics
Authors: Thomas H Tietenberg, Lynne Lewis
10th Edition
1315523965, 9781315523965
