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Note that the CPI-based rate of inflation between 2015 and 2016 in the baseline scenario provided is 9.6%. Suppose, instead of rising from $2 to $2.50 between 2015 and 2016, the price of hamburgers rose to $3.50. What would be the rate of inflation

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abidemiokin

Answer:

75%

Step-by-step explanation:

The price of hamburger rise from $2 to $2.50 between 2015 and 2016, if the price of hamburgers rose to $3.50 instated of $2.50 then the increase in price cal be calculated as thus;

Note initial price is $2 and the new final price is $3.50,

Increment = final price - initial Price

Increment = $3.50-$2 = $1.50

To calculate the rate of inflation,

Rate of Inflation = increment/initial price × 100%

Rate of Inflation = $1.50/$2 × 100

Rate of inflation = 150/2

Rate of inflation = 75%

The rate of inflation is 75%.

  • The calculation is as follows:

Since

initial price is $2 and the new final price is $3.50,

So,

Increment = final price - initial Price

= $3.50-$2 = $1.50

Now the inflation rate is

[tex]= increment\div initial price \times 100\%\\\\= $1.50\div $2 \times 100[/tex]

= 75%

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