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Table 24-9 The Table Below Lists the Per Gallon Prices of Gas

question 11

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Table 24-9
The table below lists the per gallon prices of gas and milk for the months of April, May, and June. Assume that the typical consumer buys 60 gallons of gas and 4 gallons of milk each month, and that April is the base period. Table 24-9 The table below lists the per gallon prices of gas and milk for the months of April, May, and June. Assume that the typical consumer buys 60 gallons of gas and 4 gallons of milk each month, and that April is the base period.   -Refer to Table 24-9. What is the inflation rate for May? A) 66.4% B) 60.1% C) -4.1% D) 10%
-Refer to Table 24-9. What is the inflation rate for May?


Definitions:

Milligrams

A unit of mass equal to one thousandth of a gram, used in measurements of small quantities of substances.

Grams

A unit of mass equal to one thousandth of a kilogram in the metric system, commonly used for measuring small quantities of material.

Centimeters

A unit of length in the metric system, equal to one hundredth of a meter.

Inches

A unit of length in the Imperial and US customary systems, equal to 1/12 of a foot.

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