Homework Answers
In 2010,
Price of basket of goods (5 pencils and 7 erasers) = 5*10 + 7*20 = 190
In 2011,
Price of the same basket = 5*30 + 7 *40 = 430
Nearest answer is Option d (125)
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Suppose the following economy produced pencils and erasers in 2011 and 2012 according to the following...
Suppose the following economy produced pencils and erasers in 2011 and 2012 according to the following...
Suppose the following economy produced pencils and erasers in 2011 and 2012 according to the following table. CPl basket in this economy consists of 5 pencils and 7 erasers. Which one is the value nearest to an inflation rate by GDP deflator between 2010 and 2011 using 2011 as a base year? 2010 P20102011 P2011 Pencils 5 10 8 30 Erasers7 20 15 40 Suppose the following economy produced pencils and erasers in 2011 and 2012 according to the following...
Suppose the following economy produced pencils and erasers in 2010 and 2011 according to the following...
Suppose the following economy produced pencils and erasers in 2010 and 2011 according to the following table. CPI basket in this economy consists of 5 pencils and 7 erasers. Which one is the value nearest to an inflation rate by CPI between 2010 and 2011 using 2010 as a base year? 2010 2010 2011 2011 Pencils 5 10 8 30 Erasers 7 20 15 40 Select one a. 135 b. 115 ะก. 125 d. 100 Suppose the following economy produced...
How do you solve these GDP questions? Question 8 Not yet answed erasers. Which one is...
How do you solve these GDP questions?
Question 8 Not yet answed erasers. Which one is the value nearest to an inflation rate by CPI between 2010 and 2011 using 2010 as a base year? Points out of 1.00 P Flag question Suppose the following economy produced pencils and erasers in 2010 and 2011 according to the following table. CPI basket in this economy consists of 5 pencils and 7 2010 P20102011 P2011 Pencils 5 10 8 30 Erasers 7...
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Assume that an economy produces
only three goods; Computers, cars, and pizza. Table 1 gives the price
and quantity for each good and the number of employed and unemployed
individuals for the years 2010-2013. Table 2 gives the fixed basket used
for calculating the CPI. Assume that the base year is 2011 and show
your work! Table 1 - Price and Quantity of Goods Sold in 2010-2013 2010
2011 2012 2013 P Q P O P Q 25 Computers Cars...
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calculating the inflation ising a simple price imdex. Perform these same calculations for 2011 and 2012,...
calculating the inflation ising a simple price imdex.
Perform these same calculations for 2011 and 2012, and enter the results in the following table. 2010 Price Cost (Dollars) (Dollars) 50 2011 Price Cost (Dollars) (Dollars) 2012 Price Cost (Dollars) (Dollars) Quantity in Basket Notebooks Calculators 100 140 150 Large coffees Energy drinks Textbooks 100 1,000 1,400 Total cost Price index 100 on a shows - typical college student's annual Consider a fictional Price index, the college student price index, based...
Suppose the following economy produced pencils and erasers in 2011 and 2012 according to the following table. CPl basket in this economy consists of 5 pencils and 7 erasers. Which one is the value nearest to an inflation rate by GDP deflator between 2010 and 2011 using 2011 as a base year? 2010 P20102011 P2011 Pencils 5 10 8 30 Erasers7 20 15 40 Suppose the following economy produced pencils and erasers in 2011 and 2012 according to the following...
Suppose the following economy produced pencils and erasers in 2010 and 2011 according to the following table. CPI basket in this economy consists of 5 pencils and 7 erasers. Which one is the value nearest to an inflation rate by CPI between 2010 and 2011 using 2010 as a base year? 2010 2010 2011 2011 Pencils 5 10 8 30 Erasers 7 20 15 40 Select one a. 135 b. 115 ะก. 125 d. 100 Suppose the following economy produced...
How do you solve these GDP questions?
Question 8 Not yet answed erasers. Which one is the value nearest to an inflation rate by CPI between 2010 and 2011 using 2010 as a base year? Points out of 1.00 P Flag question Suppose the following economy produced pencils and erasers in 2010 and 2011 according to the following table. CPI basket in this economy consists of 5 pencils and 7 2010 P20102011 P2011 Pencils 5 10 8 30 Erasers 7...
5. Real versus nominal GDP Consider a simple economy that produces two goods: pencils and erasers. The following table shows the prices and quantities of the goods over a three-year period. Pencils Price Quantity (Dollars per pencil (Number of pencils) 1 125 Erasers Price Quantity (Dollars per eraser (Number of erasers) 1 200 Year 2018 2019 170 4 230 2020 4 150 4 170 Use the information from the preceding table to fill in the following table. Nominal GDP (Dollars)...
19. (16 POINTS) Suppose that the representative basket of goods consumed in the economy in a year is made of: 150 lbs of bread, 80 bottles of water and 50 T-shirts. Prices (in USD) of each of these items, across different years, are reported in the following table Year 1 lbs of bread 1 bottle of water 1 T-shirt 2008 S2 2009 $2.3 2010 $2.6 2011 $2.8 2012 S3 $1.2 $1.2 $1.35 $1.8 $1.8 $15 $18 $18 $18 $25 (a)...
5. Inflation and CPI Suppose in Economy A, the final goods produced in year 2015, 2016 and 2017 are milk, beef, gasoline, cloth. The quantities (Q) produced and prices (P) are given by the following: Year 2015 Qmilk Pmilk 200 2.35 220 2.49 233 2.79 (beer Pbeer lgasolin 120 3.30 400 123 3.35 430 145 3.47 440 Pgasoline (cloth Pcloth 1.12 510 2.33 1.15 512 2.47 1.20 523 2.67 2016 2017 Let 2015 be the base year and assume the...
Question 9 1 pts Consider the following table: The economy in the base year 2018 produced: Item Coffee Pizza Beer Quantity 20 cups 22 pizzas 40 litres Price $3 per cup $10 per pizza $3 per litre In 2019 the same economy produced: Item Quantity Coffee 24 cups Pizza 25 pizzas Beer 42 litres Price $2 per cup $9 per pizza $3.50 per litre Which of the following is the rate of consumer price inflation and real GDP growth between...
calculating the inflation ising a simple price imdex.
Perform these same calculations for 2011 and 2012, and enter the results in the following table. 2010 Price Cost (Dollars) (Dollars) 50 2011 Price Cost (Dollars) (Dollars) 2012 Price Cost (Dollars) (Dollars) Quantity in Basket Notebooks Calculators 100 140 150 Large coffees Energy drinks Textbooks 100 1,000 1,400 Total cost Price index 100 on a shows - typical college student's annual Consider a fictional Price index, the college student price index, based...
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