Table 24-4
The table below pertains to Studious, an economy in which the typical consumer's basket consists of 5 books and 10 calculators.
-Refer to Table 24-4. The inflation rate was
A)24.3 percent in 2013 and 22.5 percent in 2014.
B)23.8 percent in 2013 and 9.5 percent in 2014.
C)23.8 percent in 2013 and 7.7 percent in 2014.
D)24.3 percent in 2013 and 7.3 percent in 2014.

Question

Table 24-4
The table below pertains to Studious, an economy in which the typical consumer's basket consists of 5 books and 10 calculators. 
-Refer to Table 24-4. The inflation rate was
A)24.3 percent in 2013 and 22.5 percent in 2014. 
B)23.8 percent in 2013 and 9.5 percent in 2014. 
C)23.8 percent in 2013 and 7.7 percent in 2014. 
D)24.3 percent in 2013 and 7.3 percent in 2014.

Quizplus · Accepted Answer

The inflation rate is calculated by the percentage change in the price index from one year to the next. The given options suggest the correct calculations for the years 2013 and 2014.

Table 24-4 The Table Below Pertains to Studious, an Economy in Which