Suppose That the CPI in Egypt Was 111 in 2009

question 72

Multiple Choice

Suppose that the CPI in Egypt was 111 in 2009 and 122 in 2010. The inflation rate between those two years was

• A)4.8 percent.
• B)5.5 percent.
• C)9.9 percent.
• D)11 percent.

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Definitions:

Consumption Bundle

A collection of goods and services consumed by an individual or household.

Good X

"Good X" is a term used in economics to represent a hypothetical product or commodity being analyzed or discussed in theory or case studies.

Good Y

A hypothetical product used in economic models to discuss theories and principles.

Budget Constraint

A representation of all the combinations of goods and services that a consumer can afford to buy at given prices with their income level.