Suppose the Consumer Price Index for 2012 was 121.8 and for 2014 it was 125.2. (a) Determine the purchasing power of the dollar in 2012 and 2014 relative to the base year 2002. (b) Compute the purchasing power of the dollar in 2014 relative to 2012. (a) The purchasing power of the dollar in 2012 is. (Round to three decimal places as need.) The purchasing power of the dollar in 2014 is. (Round to three decimal places as need.) (b) The purchasing power of the dollar in 2014 relative to 2012 is. (Round to three decimal places as need.)

Suppose the Consumer Price Index for 2012 was 121.8 and for 2014 it was 125.2. (a) Determine the purchasing power of the dollar in 2012 and 2014 relative to the base year 2002. (b) Compute the purchasing power of the dollar in 2014 relative to 2012. (a) The purchasing power of the dollar in 2012 is. (Round to three decimal places as need.) The purchasing power of the dollar in 2014 is. (Round to three decimal places as need.) (b) The purchasing power of the dollar in 2014 relative to 2012 is. (Round to three decimal places as need.)

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter13: Inflation

Section: Chapter Questions

Problem 2SQP

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