suppose that the following quantities of goods and their prices represent a typical college student's spending at two different times. what was the inflation rate from 2017 to 2018 according to the price indexes you derived from the question above?

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24-11-2022
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suppose that the following quantities of goods and their prices represent a typical college student's spending at two different times. what was the inflation rate from 2017 to 2018 according to the price indexes you derived from the question above?

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baliyansmiriti baliyansmiriti · Answer 1 · 2022-12-01T06:07:58+01:00

The price indexes you derived from the question above is 1.3.

To locate the CPI in any 12 months, divide the price of the marketplace basket in 12 months t with the aid of using the price of the identical marketplace basket withinside the base 12 months. The CPI in 1984 = $seventy-five/$seventy-five x a hundred = a hundred The CPI is simply an index fee and it's miles listed to a hundred withinside the base 12 months, in this example 1984.

So costs have risen with the aid of using 28% over that 20 12 months period. Does the proportion extrude in costs among years extrude while the bottom 12 months is modified from Year 1 to Year 2? No Why or why not? Only the bottom is modified. The relative rate adjustments are the identical.

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