Homework Answers
2) Increase in the general price level = (New CPI - Old CPI)/Old CPI
= (165 - 154)*100/154
= 7.14 percent
Select option C
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D.raise 2. The CPI was 154 in one year and 165 the following year. How much...
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....
1. If real wages rise at the same time that nominal wages fall, we can safely...
1. If real wages rise at the same time that nominal wages fall, we can safely say that: A. Deflation is occuring B. Inflation is occuring C. The living standard of hourly workers is decreasing D. Taxes are lower E. None of the above 2. If the CPI for 1984 is 127, how much did prices rise between the base year and 1984? A. 27 percent B. 127 Percent C.1.27 Percent D.73 percent E. None of above
(a) What is the CPI in 2015, 2016, and 2017 if 2015 is the base year?...
(a) What is the CPI in 2015, 2016, and 2017 if 2015 is the
base year?
(b) What is the (CPI) inflation 2015-2016 and 2016-2017?
(c) How does CPI differ in 2015 and 2016 if 2016 is the base
year?
(d) What effect does this have on your calculation of (CPI)
inflation between 2015-
3. Suppose you are told that a basket of goods to calculate a consumer price index contains the following items: 4 apples and 2 bottles of...
ASSIGNMENT #5 9. One way the consumer price index (CPI) differs from the GDP chain price...
ASSIGNMENT #5 9. One way the consumer price index (CPI) differs from the GDP chain price index is that the CPI: uses current year quantities of goods and services b. a. includes separate market baskets of goods and services for both base and current years. includes only goods and services bought by typical urban consumers. d. C. is bias free. 10. Suppose a market basket of goods and services costs $1,000 in the base year and the consumer price index...
154. How much money must be invested in an account that pays 6% per year in-...
154. How much money must be invested in an account that pays 6% per year in- terest to be worth $20,000 at the end of 8 years if (forgetting leap years and making "convenient" assumptions): a. Interest is compounded annually? onomani a b. Interest is compounded semi-annually? c. Interest is compounded quarterly? Wo b d. Interest is compounded monthly? no wo o e. Interest is compounded weekly? f. Interest is compounded daily? g. Interest is compounded hourly? h. Interest is...
Use the following to answer questions 32-33: Table: CPI Year CPI Value 1999 110 2000 115...
Use the following to answer questions 32-33: Table: CPI Year CPI Value 1999 110 2000 115 2001 117 2002 115 32. (Table: CPI) This table shows price level statistics for a country. In which of the following years did this country experience disinflation? A) 2001 to 2002 B) 2000 to 2001 C) There is never disinflation, D) 1999 to 2000 33. (Table: CPI) This table shows price level statistics for a country. In which of the following years does this...
The table below shows the GDP deflator and the CPI over five recent years. By what...
The table below shows the GDP deflator and the CPI over five recent years. By what percent did prices change between years for each measure? Calculate the annual inflation rate and then the inflation rate across the entire time period. Instructions: Enter your answers as percentages rounded to two decimal places. Change in GDP deflator Year 2012 2013 Change in CPI GDP deflator 100 105 CPI 100 104 2014 112 2015 123 110 113 120 2016 127 2012-2016
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...
Question 13 2 pts Consider the country called the "Republic of Miguel". It has 500,000 residents....
Question 13 2 pts Consider the country called the "Republic of Miguel". It has 500,000 residents. We also know the CPI for the following years: 2017: Base year 2018: 132 2019: 174 2020: 185 How much did prices rise from 2017 to 2020? 32% 50% 85% 100% Not enough information
2.5 point: QUESTION 29 If the United States CPI was 37 in 1973 and in 2016...
2.5 point: QUESTION 29 If the United States CPI was 37 in 1973 and in 2016 it was 215.3. By what percent did prices increase in the United States between 1973 and 2016? (Not the annual rate of change, but total.) a. 5 b. 48 C.482 d. 545
(a) What is the CPI in 2015, 2016, and 2017 if 2015 is the
base year?
(b) What is the (CPI) inflation 2015-2016 and 2016-2017?
(c) How does CPI differ in 2015 and 2016 if 2016 is the base
year?
(d) What effect does this have on your calculation of (CPI)
inflation between 2015-
3. Suppose you are told that a basket of goods to calculate a consumer price index contains the following items: 4 apples and 2 bottles of...
ASSIGNMENT #5 9. One way the consumer price index (CPI) differs from the GDP chain price index is that the CPI: uses current year quantities of goods and services b. a. includes separate market baskets of goods and services for both base and current years. includes only goods and services bought by typical urban consumers. d. C. is bias free. 10. Suppose a market basket of goods and services costs $1,000 in the base year and the consumer price index...
154. How much money must be invested in an account that pays 6% per year in- terest to be worth $20,000 at the end of 8 years if (forgetting leap years and making "convenient" assumptions): a. Interest is compounded annually? onomani a b. Interest is compounded semi-annually? c. Interest is compounded quarterly? Wo b d. Interest is compounded monthly? no wo o e. Interest is compounded weekly? f. Interest is compounded daily? g. Interest is compounded hourly? h. Interest is...
Use the following to answer questions 32-33: Table: CPI Year CPI Value 1999 110 2000 115 2001 117 2002 115 32. (Table: CPI) This table shows price level statistics for a country. In which of the following years did this country experience disinflation? A) 2001 to 2002 B) 2000 to 2001 C) There is never disinflation, D) 1999 to 2000 33. (Table: CPI) This table shows price level statistics for a country. In which of the following years does this...
The table below shows the GDP deflator and the CPI over five recent years. By what percent did prices change between years for each measure? Calculate the annual inflation rate and then the inflation rate across the entire time period. Instructions: Enter your answers as percentages rounded to two decimal places. Change in GDP deflator Year 2012 2013 Change in CPI GDP deflator 100 105 CPI 100 104 2014 112 2015 123 110 113 120 2016 127 2012-2016
Question 13 2 pts Consider the country called the "Republic of Miguel". It has 500,000 residents. We also know the CPI for the following years: 2017: Base year 2018: 132 2019: 174 2020: 185 How much did prices rise from 2017 to 2020? 32% 50% 85% 100% Not enough information
2.5 point: QUESTION 29 If the United States CPI was 37 in 1973 and in 2016 it was 215.3. By what percent did prices increase in the United States between 1973 and 2016? (Not the annual rate of change, but total.) a. 5 b. 48 C.482 d. 545
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