Solved

Table 11-2
the Table Below Pertains to Iowan, an Economy

Question 273

Multiple Choice

Table 11-2
The table below pertains to Iowan, an economy in which the typical consumer's basket consists of 3 pounds of pork and 4 bushels of corn.  Year  Price of  pork  Price of  Corn 2008$20 per pound $12 per bushed 2009$25 per pound $18 per bushed \begin{array} { | c | c | c | } \hline \text { Year } & \begin{array} { c } \text { Price of } \\\text { pork }\end{array} & \begin{array} { c } \text { Price of } \\\text { Corn }\end{array} \\\hline 2008 & \$ 20 \text { per pound } & \$ 12 \text { per bushed } \\\hline 2009 & \$ 25 \text { per pound } & \$ 18 \text { per bushed } \\\hline\end{array}
-Refer to Table 11-2. If 2009 is the base year, then the inflation rate in 2009 was


A) 26.5 percent.
B) 36.1 percent.
C) 39 percent.
D) 47 percent.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions