Essay
If year 1 is the base year and the price index for year 2 is 105 and the price index for year 3 is 103, what is the inflation rate in years 2 and 3? Explain what has happened between years 1 and 2, years 2 and 3, and years 1 and 3 to the cost of living.
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The inflation rate in year 2 i...View Answer
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