Question
. In an economy a typical consumer purchases 4 notebook and 5 pens. The price of...
. In an economy a typical consumer purchases 4 notebook and 5 pens. The price of these products is given in the table below for three years.
Year Price of Notebook Price of Pen
2017 $3 $2
2018 $4 $3
2019 $5 $5
From the information given in the table above (assuming 2017 as the base year) calculate:
• CPI for 2017
• CPI for 2018
• CPI for 2019
• Inflation rate for 2018
• Inflation rate for 2019
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