Table 24-14 TOPICS

question 15

Short Answer

Table 24-14
TOPICS:
Price levels
Inflation
KEYWORDS:
BLOOM'S: Application
CUSTOM ID:
020.24 - SAE - MANK08
Table 24-15
The table below lists the prices of chips and salsa for the months of October, November, and December. Assume that the typical consumer buys 8 bags of chips and 4 jars of salsa each month, and that October is the base period.
-Refer to Table 24-15. Calculate the inflation rate for December.

---

Definitions:

Kit Carson

An American frontiersman and soldier who played a key role in the westward expansion of the United States, but whose actions also contributed to the displacement of Native American tribes.

Navajos

are a Native American people of the Southwestern United States, known for their rich cultural traditions, art, especially weaving, and their history of resilience and sovereignty.

Union Troops

Soldiers who fought for the Northern states during the American Civil War.

New Mexico Territory

The New Mexico Territory was an organized incorporated territory of the United States that existed from 1850 until 1912, when the remaining portion of the territory was admitted as the state of New Mexico.