Use the table below to answer the following question: Prices That Rose (%) in 2013
Question:
Use the table below to answer the following question:
Prices That Rose (%) in 2013 Prices That Fell (%) in 2013
Oranges +10% Televisions -13.5%
Bacon +7.7 Lettuce -11.7
Eggs +6.1 Coffee -7.6
Donuts +3.6 Peanut butter -7.5
College tuition +3.5 Apples -7.9
Cigarettes +3.4 Air fares -4.8
Text books +2.8 Ice cream -1.5
Average inflation rate: +1.6%
If apples and oranges have identical weights in the "fruit price index", by how much did fruit prices rise in 2013?
Step by Step Answer:
The Macro Economy Today
ISBN: 978-1259291821
14th edition
Authors: Bradley R. Schiller, Karen Gebhardt