The table shows price indices for several regions at two points in time. Use thi

Question

The table shows price indices for several regions at two points in time. Use this data to answer the following questions Year SunRustBible Between 1900 and 1950 inflation occurred 1900 50 1950 65 Belt Belt Belt 100 145 200 in all three regions in two of the three regions in one of the three regions in none of the regions 245 O O Rank the regions by their inflation rate (rank a small positive percentage change in price level ahead of a large negative change) largest increase in price smallest increase (or largest decrease) in price Rust Belt Bible Belt Sun Belt

Explanation / Answer

1. Inflation occured in all three regions.

2. % increase in Sun Belt = (65 - 50)/50 x 100 = 15 x 2 = 30%

% increase in Rust belt = (145 - 100)/100 x 100 = 45%

% increase in Bible belt = (245 - 200)/200 x 100 = 45/2 = 22.5%

So, Rust belt, Sun belt and Bible belt is the sequence.

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