Answered: What is the difference between a & b?…

Macroeconomics: Principles and Policy (MindTap Course List)

13th Edition

ISBN:9781305280601

Author:William J. Baumol, Alan S. Blinder

Publisher:William J. Baumol, Alan S. Blinder

Chapter6: How Statisticians Measure Inflation

Section6.A: How Statisticians Measure Inflation

Problem 5TY

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Calculate the inflation rate for the following time periods (use the CPI data on WWW. BLS.GOV) or Simply click on this link: https://data.bls.gov/pdq/SurveyOutputServlet?series_id=CUURA421SA0,CUUSA421SA0 and select 1959 to 1999 the hit go. Then use the formula Change in CPI or inflation = (CPI _{current year} – CPI _{base year}/CPI _{base year}) x 100. You will need five answers for a. to e.

1959 – 1963
1964 – 1969
1970 – 1979
1980 – 1989
1990 – 1999

What is the difference between a & b? Why? Compare inflation for 1970s and 1980s. Any improvement in the 1990s? What might be one reason for the improvement?

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