Use the table below to answer the following question: Prices That Rose (%) in 2013

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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?

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Related Book For  book-img-for-question

The Macro Economy Today

ISBN: 978-1259291821

14th edition

Authors: Bradley R. Schiller, Karen Gebhardt

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