The inflation rate between the years 2000 and 2001 was 2.45%. Based on this information, a basket of goods that cost $161 in the year 2000 would now cost how much in the year 2001? Enter a number rounded to two decimal places.

The inflation rate between the years 2000 and 2001 was 2.45%. Based on this information, a basket of goods that cost $161 in the year 2000 would now cost how much in the year 2001? Enter a number rounded to two decimal places.

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter13: Inflation

Section: Chapter Questions

Problem 2SQP

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Question

The inflation rate between the years 2000 and 2001 was 2.45%. Based on this information, a
basket of goods that cost $161 in the year 2000 would now cost how much in the year 2001?
Enter a number rounded to two decimal places.

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