What term do economists use to describe this second outcome

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Reference no: EM13832699

If the CPI was 140 last year and is 147 this year, what is this year’s rate of inflation?

Instructions: Round your answer to two decimal places.

In contrast, suppose that the CPI was 140 last year and is 132 this year. What is this year’s rate of inflation?

Instructions: Round your answer to two decimal places.

What term do economists use to describe this second outcome?

Reference no: EM13832699

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