Homework Answers
salary in 1 = 20000
salary in 2 = 25000
CPI in 1 = 100
CPI in 2 = 150
Year 2 salary in year 1 price = 25000*100/150 = 16666
option(A)
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6. Suppose your salary is $20,000 in year 1 and increases to $25,000 in year 2....
38. Suppose a nation's inflation rate is 6.8% from Year 1 to Year 2. If the...
38. Suppose a nation's inflation rate is 6.8% from Year 1 to Year 2. If the CPI in Year 2 is 100, what was the CPI in Year 1? A) 93.6 B) 100 C) 52.3 D) 106.7
Mr Lucas earned an annual salary of $100,000 in year 1990. His salary last year was...
Mr Lucas earned an annual salary of $100,000 in year 1990. His salary last year was $160,000. According to the Bureau of Statistics, the CPI for 1990 was 100 and CPI for last year was 200. Which of the following statements is true? Select one: a. Mr Lucas is better off now because he earned $60,000 more last year than in 1990. b. Mr Lucas is worse off now because he earned $60,000 less last year than in 1990. c....
Table 8-1 Employee compensation $800 Rents 90 Government spending 150 Depreciation 200 Gross private investment 445...
Table 8-1 Employee compensation $800 Rents 90 Government spending 150 Depreciation 200 Gross private investment 445 Personal income taxes 140 Net exports 75 Personal consumption 520 Interest income 100 16. Given the information in Table 8-1, the GDP equals a. $1,190. b. $1,330. c. $1,650. d. $2,670. 1. 17. The CPI was 238 in one year and 244 the following year. How much did prices rise between these two years? a. 2.46 percent b. 5.50 percent c. 2.52 percent d....
3. Suppose the market basket consists of 100X, 200 Y, and 300Z, Current-year prices are to...
3. Suppose the market basket consists of 100X, 200 Y, and 300Z, Current-year prices are to cach unit of X, $2 for each unit of Y. and $3 for each unit of Z. Base-year prices are for each unit of X, Y, and Z. What is the approximate CPI in the current year? A. 15 B. 70.20 C. 1,200 D. 150
2. Download the annual real GDP and GDP data of the United States 1950-2018 from FRED....
2. Download the annual real GDP and GDP data of the United States 1950-2018 from FRED. For the real GDP, the data online is chain-weighted and uses 2012 as the base year. In the lecture hursday, I showed you the detailed method and calculated the new chain-weighted real GDP when 1990 is the base year. You are required to calculate a new sequence of chain- weighted real GDP given a new base-year. The base year you should use in your...
The value of the CPI increases from 144 in year 1 to 166 in year 2....
The value of the CPI increases from 144 in year 1 to 166 in year 2. This means that a good costing $239 in year 1 would on average cost how much in year 2? Round your answer to two decimal places.
1. In year 1 the CPI is 140.1 and in year 2 the CPI is 148.9....
1. In year 1 the CPI is 140.1 and in year 2 the CPI is 148.9. If Sarah's salary was $33500 in year 1 what salary in year 2 would cause her to exactly keep up with inflation: A. $36,448 B. $42,300 C. $40,508 D. $ 35,604 2. Price indicates that used fixed market baskets might be inaccurate measures of inflation for which of the following reasons: A. Consumers have the ability to substitute one good for another B. New...
need help w / question 6 (a,b,c) tysm!!! 06 Suppose that a typical urban family purchases...
need help w / question 6 (a,b,c) tysm!!!
06 Suppose that a typical urban family purchases only two goods, whose prices and typical consumption quantities are as follows: Fruit (lbs) Nuts (lbs) Prices in 2010 $2 $2 Quantity in 2010 200 200 Prices in 2011 S2 5 3 annt xloo Quantity in 2011 220 150 bare a. Using the year 2010 as the base year for calculations and also as the year for measuring the typical consumer's market basket, calculate...
suppose u.s. nominal GDP increases from one year to the next. increases from one year to...
suppose u.s. nominal GDP increases from one year to the next.
increases from one year to the u.s. nominal GDP suppose Next. a.s. that Production of True goods or false & services we can conclude increased..? A true, because Prices have increased as well from one year to next. e True, because Prices have decreased from one year to the next. c false, because we do not know whether Prices have changed. & False, because prices have decreased from one...
Use Table 1 to answer Questions 19 through 24. Table 1 reflects prices of goods and...
Use Table 1 to answer Questions 19 through 24. Table 1 reflects
prices of goods and services in a fictional economy that only
produces two goods, kiwis and apricots.
We were unable to transcribe this image22. Suppose that the basket of goods used to calculate the CPI is fixed at 5 units of kiwis and 10 units of apricots. 2014 remains the base year. What was the value of the CPI in 2016? a. 50 b. 100 C. 150 d....
38. Suppose a nation's inflation rate is 6.8% from Year 1 to Year 2. If the CPI in Year 2 is 100, what was the CPI in Year 1? A) 93.6 B) 100 C) 52.3 D) 106.7
3. Suppose the market basket consists of 100X, 200 Y, and 300Z, Current-year prices are to cach unit of X, $2 for each unit of Y. and $3 for each unit of Z. Base-year prices are for each unit of X, Y, and Z. What is the approximate CPI in the current year? A. 15 B. 70.20 C. 1,200 D. 150
2. Download the annual real GDP and GDP data of the United States 1950-2018 from FRED. For the real GDP, the data online is chain-weighted and uses 2012 as the base year. In the lecture hursday, I showed you the detailed method and calculated the new chain-weighted real GDP when 1990 is the base year. You are required to calculate a new sequence of chain- weighted real GDP given a new base-year. The base year you should use in your...
need help w / question 6 (a,b,c) tysm!!!
06 Suppose that a typical urban family purchases only two goods, whose prices and typical consumption quantities are as follows: Fruit (lbs) Nuts (lbs) Prices in 2010 $2 $2 Quantity in 2010 200 200 Prices in 2011 S2 5 3 annt xloo Quantity in 2011 220 150 bare a. Using the year 2010 as the base year for calculations and also as the year for measuring the typical consumer's market basket, calculate...
suppose u.s. nominal GDP increases from one year to the next.
increases from one year to the u.s. nominal GDP suppose Next. a.s. that Production of True goods or false & services we can conclude increased..? A true, because Prices have increased as well from one year to next. e True, because Prices have decreased from one year to the next. c false, because we do not know whether Prices have changed. & False, because prices have decreased from one...
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We were unable to transcribe this image22. Suppose that the basket of goods used to calculate the CPI is fixed at 5 units of kiwis and 10 units of apricots. 2014 remains the base year. What was the value of the CPI in 2016? a. 50 b. 100 C. 150 d....
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