A-LevelEconomicsThe macroeconomy9708/12 · May/June 2020 · Q231 Mark

According to US Consumer Prices Index (CPI) statistics, an identical good that cost $100 in 1913 would cost $2359.60 in 2013. What was the approximate cumulative rate of inflation over the period?

A23%

B230%

C2300%

D23000%

✓ Correct answer

C: 2300%

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Topic: The macroeconomy, A-Level Economics (syllabus 9708). Multiple choice, 1 mark.
Source: A-Level Economics, May/June 2020 Paper 1 Variant 2, question 23.

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