Discussion:
1. If the price of the basket in the base year is $64 and the price of the basket in the current year is $92, what is the CPI?
2. If the price of the basket in the base year is $400 and the price of the basket in the current year is $382, what is the CPI?
3. If the CPI in Year "x" is 125, and the CPI in Year "x-1" is 105, what is the inflation rate for Year "x"?
4. If the CPI in Year "x" is 515, and the CPI in Year "x-1" is 500, what is the inflation rate for Year "x"?
5. If Nominal GDP is 9,874,356, and the GDP Deflator is .92, what is Real GDP?