Consider the Following Data That Gives the Quantity Produced and Unit

question 95

Multiple Choice

Consider the following data that gives the quantity produced and unit price for three different goodsacross two different years to answer the next questions. Assume that the base year is 2012
$$\begin{array} { l l c l l } \hline \text { Good } & \text { 2012 Price } & \text { 2012 Quantity } & \text { 2013 Price } & \text { 2013 Quantity } \\\hline \text { A } & \$ 2.00 & 500 & \$ 2.50 & 600 \\\text { B } & \$ 4.00 & 1,000 & \$ 5.00 & 900 \\\text { C } & \$ 2.00 & 200 & \$ 1.00 & 300 \\\hline\end{array}$$

-What was the rate of inflation between the two years?

• A) 19.44 percent
• B) 8.57 percent
• C) 6.67 percent
• D) 2.38 percent
• E) 16.67 percent

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