Econ-5.3 Part 2 Formative Assessment- Option 1

Identify the Consumer Price Index for the year labeled as the Current Year using the data provided:

The value of the market basket in 2009 (the Current Year) is $10,000 & the value of the market basket in the base year is $7,000.

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Identify the Consumer Price Index for the year labeled as the Current Year using the data provided:

The value of the market basket in the base year is $300 & the value of the market basket in 2015 (the Current Year) is $410.

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If the CPI for 2016 is 122.5 and the CPI for 2017 is 126, what is the Rate of Inflation from 2016 to 2017? 

Is your answer at, below or above the goal rate of the Rate of Inflation for the US?

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  If the CPI for 2017 is 99.9 and the CPI for 2018 is 105.3, what is the Rate of Inflation from 2017 to 2018? 

Is your answer at, below or above the goal rate of the Rate of Inflation for the US?

Show your work by uploading a pic of the math you did to get your answer.

  If the CPI for 2009 is 102.6 and the CPI for 2010 is 106.1, what is the Rate of Inflation from 2009 to 2010?

Is your answer at, below or above the goal rate of the Rate of Inflation for the US?

Show your work by uploading a pic of the math you did to get your answer.