-In 2016, consumers in Dexter consumed only books and pens. The prices and quantities for 2016 and 2017 are listed in the table above. The reference base period for Dexter's CPI is 2016. What is the inflation rate in 2017?
Definitions:
Perverse Incentive
A perverse incentive is an incentive that has an unintended and undesirable result that is contrary to the interests of the incentive makers.
Budget-gaming Problem
A situation in budgeting where individuals or departments manipulate figures or withhold information to secure budgetary advantages.
Compensation Schedule
A structured plan that outlines the timing and amounts of payments for work performed, damages, or other compensations.
Straight Line Pay
A compensation plan where employees are paid a fixed salary or wage that does not vary based on performance or sales.
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