Question: for the same model economy data is given below assume...
Question details
For the same model economy, (Data is given below) assume period
2 as the base time period.Recalculate
(i): CPI for Period 1, 2 and 3
(ii): Rate of inflation between
- (a) Period 1 and 2
- (b): Period 1 and 3
- (c): Period 2 and 3
|
Entry Ticket |
Burger |
Panini Sandwich |
Dr. Pepper |
|
|
Quantity |
6 |
12 |
4 |
1o |
|
Year 1 |
$5.00 |
$2.00 |
$12.00 |
$1.25 |
|
Year 2 |
$6.00 |
$2.50 |
$12.50 |
$1.40 |
|
Year 3 |
$6.50 |
$3.00 |
$13.00 |
$1.50Ye |
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