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The question is in the image Assume the prices shown in the table below are the prices of Big Macs in 2030, 2031, and 2032,

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Assume the prices shown in the table below are the prices of Big Macs in 2030, 2031, and 2032, and that changes in the price of Big Macs tend to closely keep up with inflation. For each of the four instances, determine the following. (i) The percentage changes in price levels between each consecutive year. (ii) Whether the economy was experiencing inflation, deflation, disinflation, or hyperinflation over each period. (Assume that inflation above 100 percent constitutes hyperinflation.) Instructions: Round your answers to two decimal places and include a negative sign, if necessary. Price in 2030 Price in 2031 Price in 2032 Inflation rate Inflation rate Description ($) ($) ($) from from 2030 to 2031 2031 to 2032 1. 00 1 . 02 1 . 03 8 (Click to select) v 1. 00 0. 99 0. 97 (Click to select) v 0 . 01 0 . 05 1.00 (Click to select) v 1 . 00 1 . 10 1 . 15 8 (Click to select) v

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