Solved: What is this years rate of inflation, Basic Statistics

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What is this years rate of inflation

Solve the below:

Q1: If the CPI was 110 last year and is 121 this year, what is this year's rate of inflation?

Q2: What is the "rule of 70"? How long would it take for the price level to double if inflation persisted at (a) 2, (b) 5, and (c) 10 percent per year?

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Basic Statistics: What is this years rate of inflation

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Basic Statistics: What is this years rate of inflation

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