Answered: The price index was 220 in one year and…

The price index was 220 in one year and 238.2 in the next year. What was the inflation rate? a) 8.3 percent b) 108.3 percent c) 4.8 percent d) 38.2 percent

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter13: Inflation

Section: Chapter Questions

Problem 5SQ

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Question

The price index was 220 in one year and 238.2 in the next year. What was the inflation rate?
a)
8.3 percent
b) 108.3 percent
C) 4.8 percent
c)
d)
38.2 percent

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