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Table 9-12 Product Quantity Base Year Price (2010) Price (2019) Price (2020) Burritos 10 $1.00 $1.50 $1.75 Flashlights 15 5.00 7.00 6.75 Golf balls 8
Table 9-12
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3) | Refer to Table 9-12. Consider a simple economy that produces only three products: burritos, flashlights, and golf balls. Use the information in the table to calculate the inflation rate for 2020, as measured by the consumer price index. |
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