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What was the value of the market basket in 2018

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Reference no: EM133426013

Question 1) Based on your completed chart, what is the percentage decrease or increase in 2022 prices compared to 2020? Explain.

Question 2) If the CPI was 50 in 2018, what was the value of the market basket in 2018? Show your work.

Question 3) Based on your answer to part d, what was the inflation rate from 2018 to 2019? Show your work.

Question 4) Explain the difference between CPI and the inflation rate as economic indicators of inflation.

Reference no: EM133426013

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