Using the Consumer Price Index (CPI) detailed in the table below, Year CPI CPI Year 2003...
Based on the above table answer the following questions; What year is the base year? (15) __________________________________________ In which year, did we experience deflation? (15) ______________________________ What was the rate of inflation between 1970 and 1980? (15) ________________________ If you earned $10,000 in 1990, how much would you have had to earn in 2016 in order to maintain the same purchasing power? (5) ___________________________________ Table 4.3 1970 - 2018 Consumer Price Index for All Urban Consumers Price Price Price Price...