Note that the CPI-based rate of inflation between 2015 and 2016 in the baseline scenario provided is 9.6%. Suppose, instead of rising from $2 to $2.50 between 2015 and 2016, the price of hamburgers rose to $3.50. What would be the rate of inflation

75%

Step-by-step explanation:

The price of hamburger rise from $2 to $2.50 between 2015 and 2016, if the price of hamburgers rose to $3.50 instated of $2.50 then the increase in price cal be calculated as thus;

Note initial price is $2 and the new final price is $3.50,

Increment = final price - initial Price

Increment = $3.50-$2 = $1.50

To calculate the rate of inflation,

Rate of Inflation = increment/initial price * 100%

Rate of Inflation = $1.50/$2 * 100

Rate of inflation = 150/2

Rate of inflation = 75%