Question
The BLS reports the CPI for prescription drugs as: Year CPI-prescription drugs 2018 528.008 2019 526.785 (base is 1982-84). a.If your real expenditure on prescription
The BLS reports the CPI for prescription drugs as:
Year
CPI-prescription drugs
2018
528.008
2019
526.785
(base is 1982-84).
a.If your real expenditure on prescription drugs in 2019 was $1,000, what was your nominal prescription drug expenditure?(3)
b. What was the rate of inflation in prescription drug between 2018 & 2019?(2)
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Introductory Econometrics A Modern Approach
Authors: Jeffrey M. Wooldridge
2nd Edition
0324113641, 9780324113648
