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You have the following information for the U.S. economy in 2011 and 2012

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Question;You have the following information for the U.S. economy in 2011 and 2012:CPI-U(1982-84=100)2011 224.92012 229.6Based on the above information, answer the following:a. If someone says the "CPI-U for 2012 was 229.6", translate that into languagethat humans (in contrast to "econs") can understand. Be sure to briefly explain the cryptic "1982-84=100".b. Using the above information, calculate the headline inflation rate in the U.S. from 2011 to 2012.

 

Paper#57731 | Written in 18-Jul-2015

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