Question: Indicate whether Clancy and Eileen were better off, worse off, or unaffected by the changes in prices. Better Off Worse Off Unaffected Clancy Eileen Now

Indicate whether Clancy and Eileen were better off, worse off, or unaffected by the changes in prices.

Better Off Worse Off Unaffected
Clancy
Eileen

Now suppose that in 2020 the price of beans was $7.50 and the price of rice was $6.

In this case, inflation was

.

Indicate whether Clancy and Eileen were better off, worse off, or unaffected by the changes in prices.

Better Off Worse Off Unaffected
Clancy
Eileen

Now suppose that in 2020, the price of beans was $1.50 and the price of rice was $6.

In this case, inflation was

.

Indicate whether Clancy and Eileen were better off, worse off, or unaffected by the changes in prices.

Better Off Worse Off Unaffected
Clancy
Eileen

What matters more to Clancy and Eileen?

The overall inflation rate

The relative price of rice and beans

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