Problem Set 4 Part 1: Inflation 50 Points Year CPI Year CPI Year CPI 1970 38.8 1990 130.7 2010 218.1 1971 40.5 1991 136.

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Problem Set 4 Part 1 Inflation 50 Points Year Cpi Year Cpi Year Cpi 1970 38 8 1990 130 7 2010 218 1 1971 40 5 1991 136 1 (73.33 KiB) Viewed 31 times

Problem Set 4 Part 1: Inflation 50 Points Year CPI Year CPI Year CPI 1970 38.8 1990 130.7 2010 218.1 1971 40.5 1991 136.2 2011 224.9 2012 229.6 140.3 144.5 2013 233.0 148.2 2014 236.7 237.0 240.0 152.4 2015 1972 41.8 1992 1973 44.4 1993 1974 49.3 1994 1975 53.8 1995 1976 56.9 1996 1977 60.6 1997 1978 65.2 1998 1979 72.6 1999 156.9 2016 160.5 2017 245.1 163 2018 251.1 166.6 2019 255.7 1980 82.4 2000 172.2 2020 258.8 1981 90.9 2001 177.1 2021 271.0 1982 96.5 2002 179.9 1983 100.0 2003 184 1984 103.9 2004 188.9 1985 107.6 2005 195.3 1986 109.6 2006 1987 113.6 2007 201.6 207.3 215.3 1988 118.3 2008 1989 124 2009 214.5 Based on the above table answer the following questions; A) What year is the base year? (15) B) In which year, did we experience deflation? (15) C) What was the rate of inflation between 2010 and 2021? (15) D) If you earned $50,000 in 2000, how much would you have had to earn in 2021 in order to maintain the same purchasing power? (5)