Table 24-7

question 324

Multiple Choice

Table 24-7. The table below applies to an economy with only two goods - hamburgers and hot dogs. The fixed basket consists of 4 hamburgers and 8 hot dogs.
-Refer to Table 24-7. If the base year is 2010, then the economy's inflation rate is

• A)2 percent in 2010 and 7 percent in 2011.
• B)4.5 percent in 2010 and 5.2 percent in 2011.
• C)9 percent in 2010 and 5.5 percent in 2011.
• D)10 percent in 2010 and 6.36 percent in 2011.

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