According to the price index, it costs 200 dollars to buy a typical basket of goods in one year. However, it costs 220 dollars in the following year. What is the inflation rate? Group of answer choices Not enough information. We need to know interest rates. 9% 10% 12%
According to the price index, it costs 200 dollars to buy a typical basket of goods in one year. However, it costs 220 dollars in the following year. What is the inflation rate? Group of answer choices Not enough information. We need to know interest rates. 9% 10% 12%
Chapter17: Inflation
Section: Chapter Questions
Problem 5SQ
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According to the price index, it costs 200 dollars to buy a typical basket of goods in one year. However, it costs 220 dollars in the following year. What is the inflation rate?
Group of answer choices
Not enough information. We need to know interest rates.
9%
10%
12%
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