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Suppose that in Country A only two goods are produced, which are books and textiles. The CPI basket includes 30 units of books and
Suppose that in Country A only two goods are produced, which are books and textiles. The CPI basket includes 30 units of books and 60 units of textiles. The prices of these goods in 2019 and 2020 are given in the following table: Price in 2019 Price in 2020 Books (per unit) 10 Textiles (per unit) 8 12 9 What is the inflation rate in Country A in 2020 (take 2019 as the base year)
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Macroeconomics Principles Applications And Tools
Authors: Arthur O Sullivan, Steven M. Sheffrin, Stephen J. Perez
7th Edition
978-0134089034, 9780134062754, 134089030, 134062752, 978-0132555234
