drag each tile to the correct box.\nthe cpi basket price for two consecutive years of five different…

drag each tile to the correct box.\nthe cpi basket price for two consecutive years of five different economies are given. determine the rate of inflation for each economy. then order the tiles from least to greatest inflation rate.\nyear 1 = $132.00\nyear 2 = $134.50\nyear 1 = $95.00\nyear 2 = $97.50\nyear 1 = $100.00\nyear 2 = $102.00\nyear 1 = $88.00\nyear 2 = $89.25\nyear 1 = $115.50\nyear 2 = $117.50

drag each tile to the correct box.\nthe cpi basket price for two consecutive years of five different economies are given. determine the rate of inflation for each economy. then order the tiles from least to greatest inflation rate.\nyear 1 = $132.00\nyear 2 = $134.50\nyear 1 = $95.00\nyear 2 = $97.50\nyear 1 = $100.00\nyear 2 = $102.00\nyear 1 = $88.00\nyear 2 = $89.25\nyear 1 = $115.50\nyear 2 = $117.50

Answer

Explanation:

Step1: Recall inflation - rate formula

The formula for the inflation rate is $\text{Inflation Rate}=\frac{CPI_{2}-CPI_{1}}{CPI_{1}}\times100%$, where $CPI_{1}$ is the CPI in year 1 and $CPI_{2}$ is the CPI in year 2.

Step2: Calculate inflation rate for first case

For $CPI_{1} = 132.00$ and $CPI_{2}=134.50$, $\text{Inflation Rate}_1=\frac{134.50 - 132.00}{132.00}\times100%=\frac{2.5}{132.00}\times100%\approx1.89%$.

Step3: Calculate inflation rate for second case

For $CPI_{1}=95.00$ and $CPI_{2} = 97.50$, $\text{Inflation Rate}_2=\frac{97.50 - 95.00}{95.00}\times100%=\frac{2.5}{95.00}\times100%\approx2.63%$.

Step4: Calculate inflation rate for third case

For $CPI_{1}=100.00$ and $CPI_{2}=102.00$, $\text{Inflation Rate}_3=\frac{102.00 - 100.00}{100.00}\times100%=\frac{2}{100.00}\times100% = 2%$.

Step5: Calculate inflation rate for fourth case

For $CPI_{1}=88.00$ and $CPI_{2}=89.25$, $\text{Inflation Rate}_4=\frac{89.25 - 88.00}{88.00}\times100%=\frac{1.25}{88.00}\times100%\approx1.42%$.

Step6: Calculate inflation rate for fifth case

For $CPI_{1}=115.50$ and $CPI_{2}=117.50$, $\text{Inflation Rate}_5=\frac{117.50 - 115.50}{115.50}\times100%=\frac{2}{115.50}\times100%\approx1.73%$.

Step7: Order the inflation - rates

Arranging the inflation rates from least to greatest: $1.42%<1.73%<1.89%<2%<2.63%$. The corresponding pairs are: Year 1 = $88.00$, Year 2 = $89.25$ < Year 1 = $115.50$, Year 2 = $117.50$ < Year 1 = $132.00$, Year 2 = $134.50$ < Year 1 = $100.00$, Year 2 = $102.00$ < Year 1 = $95.00$, Year 2 = $97.50$

Answer:

Year 1 = $88.00$, Year 2 = $89.25$; Year 1 = $115.50$, Year 2 = $117.50$; Year 1 = $132.00$, Year 2 = $134.50$; Year 1 = $100.00$, Year 2 = $102.00$; Year 1 = $95.00$, Year 2 = $97.50$