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MT445 / MT 445
Managerial Economics
Kaplan University (KU Campus)
William A. McEachern
Economics: A Contemporary Introduction, 8e
Hoboken, NJ: John Wiley & Sons.
Unit 9: National Economy, Circular Flow, and Economic Statistics
Unit 9 Project
Chapter 22 question 17, page 508
(Inflation) Here are some recent data on the U.S. consumer price index:
Year CPI Year CPI Year CPI Year CPI
1988 118.3 1993 144.5 1998 163.0 2003 184.0
1989 124.0 1994 148.2 1999 166.6 2004 188.9
1990 130.7 1995 152.4 2000 172.2 2005 195.3
1991 136.2 1996 156.9 2001 177.1 2006 201.8
1992 140.3 1997 160.5 2002 179.9
Compute the inflation rate for each year 1989-2006 and determine which years were years of inflation. In which years did deflation occur? In which years did disinflation occur? Was there hyperinflation in any year?
For each year: we take the CPI, divide by the previous year’s CPI, and then take that number times 100 (for percentage), then subtract 100 from that number (so that it reflects only growth in CPI). This will give us Yr CPI inflation(%) 1988 118.3 – 1989 124 4.80 1990 130.7 5.40 1991 136.2 4.20 1992 140.3 3.01 1993 144.5 2.99 1994 148.2 2.56 1995 152.4 2.83 1996 156.9 2.95 1997 160.5 2.29 1998 163 1.55 1999 166.6 2.20 2000 172.2 3.36 2001 177.1 2.84 2002 179.9 1.58 2003 184 2.27 2004 188.9 2.66 2005 195.3 3.38 2006 201.8 3.32 the percentage…

wth in CPI for that year, which is the measure of inflation. If it is positive (and all of these are, by the way), then it would be inflation; which is there in all the cases . if it is negative, it would be deflation (none are). Hyperinflation would be a very large number for inflation. say doubling from the previous year which i guess is not happening in any year.

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