Use the following to answer :
Table: Market Basket of School Supplies
Good Prices in 2...
Business, 07.03.2020 04:57, shfhdjskjf
Use the following to answer :
Table: Market Basket of School Supplies
Good Prices in 2010 (Base Year) Quantity Bought (2010) Prices in 2011
Backpack $40 1,000 $50.00
Notebook 10 5,000 12.00
1 2,000 1.25
(Table: Market Basket of School Supplies) The accompanying table shows the prices of three common school supplies in 2010 and 2011 and the quantities of each school supply that consumers bought in 2010, the base year. If we were to construct a school supply index (SSI) to measure the rate at which average school supply prices have changed, we would find an inflation rate of:
A) 22%
B) 122%
C) 82%
D) 18%
Answers: 1
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