Use the Table Below to Answer the Following Questions

question 134

Multiple Choice

Use the table below to answer the following questions.
Table 6-2

-Refer to Table 6-2. Suppose that the basket of goods in the CPI consisted of 3 units of pork and 4 units of corn. What is the inflation rate for 2011?

• A)21.33 percent
• B)25 percent
• C)28.89 percent
• D)36.11 percent

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Definitions:

Health-Care Inflation

The rate at which medical services and healthcare costs increase over time, often surpassing the general inflation rate.

Health-Care Expenditures

The total amount of money spent on health care services, including prevention, treatment, and rehabilitation.

Third Party

An entity involved in a transaction or situation who is neither the buyer nor the seller, but may have an interest or role.

Consumer

An individual or group that purchases goods and services for personal use, driving demand in the economy.