This table indicates the historical level of the Consumer Price Index (CPI) for the United States for 1972, 1973, and 1974. Complete the table by (1) selecting the inflation rates for 1973 and 1974, and (2) indicating for each year whether there has been inflation, deflation, or hyperinflation. Year CPI Inflation Rate Change in Price Level 1972 41.8 1973 44.4 1974 49.3 What rates of inflation for 1975 would be consistent with disinflation between 1974 and 1975? Check all that apply. 11.0% ☐ 61.0% 21.0% 10.9% What rates of inflation for 1975 would be consistent with hyperinflation? Check all that apply. 30.1% 120.1% -100.1% 100.1%

This table indicates the historical level of the Consumer Price Index (CPI) for the United States for 1972, 1973, and 1974. Complete the table by (1) selecting the inflation rates for 1973 and 1974, and (2) indicating for each year whether there has been inflation, deflation, or hyperinflation. Year CPI Inflation Rate Change in Price Level 1972 41.8 1973 44.4 1974 49.3 What rates of inflation for 1975 would be consistent with disinflation between 1974 and 1975? Check all that apply. 11.0% ☐ 61.0% 21.0% 10.9% What rates of inflation for 1975 would be consistent with hyperinflation? Check all that apply. 30.1% 120.1% -100.1% 100.1%

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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