Using the data in the table below, calculate the CPI and the inflation rate in each year, using 2013 as a base year. Instructions: Round your answers to one decimal place. Year Cost of Basket ($) CPI Inflation Rate 2013 20,000 2014 21,550 2015 22,800 2016 26,100 2017 28,830 2018 32,650

Using the data in the table below, calculate the CPI and the inflation rate in each year, using 2013 as a base year. Instructions: Round your answers to one decimal place. Year Cost of Basket ($) CPI Inflation Rate 2013 20,000 2014 21,550 2015 22,800 2016 26,100 2017 28,830 2018 32,650

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Using the data in the table below, calculate the CPI and the inflation rate in each year, using 2013 as a base year.
Instructions: Round your answers to one decimal place.
Year
Cost of Basket ($)
CPI
Inflation Rate
2013
20,000
2014
21,550
2015
22,800
2016
26,100
2017
28,830
2018
32,650

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