Table 20-7

-Refer to Table 20-7. Suppose that the data in the table above reflect price levels in the economy. What is the inflation rate between 2017 and 2018?
A) 2.9%
B) 3.5%
C) 4.6%
D) 5%
E) 7.5%

Name: Table 20-7 -Refer to Table 20-7. Suppose that the data in the table above reflect price levels in the economy. What is the inflation rate between 2017 and 2018? A) 2.9% B) 3.5% C) 4.6% D) 5% E) 7.5%
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Question

Table 20-7
 
-Refer to Table 20-7. Suppose that the data in the table above reflect price levels in the economy. What is the inflation rate between 2017 and 2018?
A) 2.9% 
B) 3.5% 
C) 4.6% 
D) 5% 
E) 7.5%

Quizplus · Accepted Answer

The inflation rate between 2017 and 2018 is calculated as (103.5 - 100.5) / 100.5 * 100 = 2.9%.

Table 20-7 -Refer to Table 20-7. Suppose That the Data in the the Data