Question

drag each tile to the correct box.

the cpi basket price for two consecutive years in five different economies are given. determine the rate of inflation for each economy. then order the tiles from least to greatest inflation rate.

tile 1:
year 1 = \\$73.00
year 2 = \\$74.10

tile 2:
year 1 = \\$79.00
year 2 = \\$80.25

tile 3:
year 1 = \\$75.00
year 2 = \\$76.15

tile 4:
year 1 = \\$88.00
year 2 = \\$89.25

tile 5:
year 1 = \\$72.50
year 2 = \\$73.75

Explanation:

Calculate inflation rates

Using the Inflation Rate Calculation knowledge point

$$ \text{Inflation Rate} = \frac{\text{Year 2 Price} - \text{Year 1 Price}}{\text{Year 1 Price}} \times 100\% $$

• Economy A:

$$ \frac{74.10 - 73.00}{73.00} \times 100\% \approx 1.5068\% $$

• Economy B:

$$ \frac{80.25 - 79.00}{79.00} \times 100\% \approx 1.5823\% $$

• Economy C:

$$ \frac{76.15 - 75.00}{75.00} \times 100\% \approx 1.5333\% $$

• Economy D:

$$ \frac{89.25 - 88.00}{88.00} \times 100\% \approx 1.4205\% $$

• Economy E:

$$ \frac{73.75 - 72.50}{72.50} \times 100\% \approx 1.7241\% $$

Order from least to greatest

Using the Inflation Rate Calculation knowledge point

$$ 1.4205\% < 1.5068\% < 1.5333\% < 1.5823\% < 1.7241\% $$

The ordered sequence of economies is:

1. Economy D (\(1.42\%\))
2. Economy A (\(1.51\%\))
3. Economy C (\(1.53\%\))
4. Economy B (\(1.58\%\))
5. Economy E (\(1.72\%\))

Answer:

The correct order of the tiles from least to greatest inflation rate is:

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