Question: refer to the image: (5%) Problem 3 - Measuring the Economy: CPI. Assume that 1997 CPI is 95, 1998 CPI is 97, 1999 CPI is

refer to the image: (5%) Problem 3 - Measuring the Economy:

refer to the image:

CPI. Assume that 1997 CPI is 95, 1998 CPI is 97, 1999

(5%) Problem 3 - Measuring the Economy: CPI. Assume that 1997 CPI is 95, 1998 CPI is 97, 1999 CPI is 100 , and 2000 CPI is 104. Which year is the base year? What is the rate inflation between 1997 and 1998? What is the average rate of annual inflation between 1997 and 2000

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