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This table indicates the historical level of the Consumer Price Index (CPI) for the United States for 1948, 1949, and 1950. Complete the table by

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This table indicates the historical level of the Consumer Price Index (CPI) for the United States for 1948, 1949, and 1950. Complete the table by (1) selecting the inflation rates for 1949 and 1950, and (2) indicating for each year whether there has been inflation, deflation, or hyperinflation. Year CPI Inflation Rate Change in Price Level 1948 24.1 1949 23.8 1950 24.1 What rates of inflation for 1951 would be consistent with disinflation between 1950 and 1951? Check all that apply. 0 51.3% 0 1.1% O 1.3% O 1.2% What rates of inflation for 1951 would be consistent with hyperinflation? Check all that apply. 0 -1.3% 0 120.0% O 15.0% 100.0%

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