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Question 27 (6 points) Assume base year is 1975. If the CPI in 1979 was 110 and it was 130 in 1981, it implies that

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Question 27 (6 points) Assume base year is 1975. If the CPI in 1979 was 110 and it was 130 in 1981, it implies that the inflation rate for 1981 with respect to 1975 was _I , and the rate of inflation from 1979 to 1981 was ? Note: CPI=100 (at the base year)

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