How much inflation occurred between 2012 and 2013

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1. The cost of a market basket in 2012 was $4,000. The cost of that same basket of goods in 2013 was $4,300. How much inflation occurred between 2012 and 2013? (Use 2012 as the base year)

3.0%

7.5%

17.5%

107.5%

2. If the CPI was 120 in 2010 and in 2012 the CPI was 155, what is the inflation rate?

9%

19

29

39%

3. If nominal GD P is $830 billion and the price level is 110. What is real GDP?

$655 billion

$755 billion

$770 billion

$830 billion

4. The number of employed in Country A is 390. The number of unemployed in Country A is 37. The natural rate of unemployment is 6%. How much potential GDP has Country A lost?

5.4% GDP lose

6.8% GDP lose

8.6% GDP lose

11.1% GDP lose

Reference no: EM133377881

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