Solve and explain what is the inflation rate for year x, Microeconomics

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Solve and explain what is the inflation rate for year x

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?

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