Suppose that the consumer price index (CPI) was 200 in 2018 and 208.2 in 2019. What...
Suppose that the consumer price index (CPI) was 200 in 2018 and 208.2 in 2019. What was the inflation rate between 2018 and 2019?
A. zero
B. 4.28%
C. 8%
D. -4.28%
E. -4.10%
F. 4.10%
Homework Answers
Answer: F. 4.10%
Explanation:
price index in 2018 = 200
price index in 2019 = 208.2
Inflation rate = (208.2-200)/200
=(8.2/200)*100
=4.10 %
Add Answer to:
Suppose that the consumer price index (CPI) was 200 in 2018 and
208.2 in 2019. What...
Suppose that the Consumer Price Index (CPI), a widely used measure of inflation in the U.S.,...
Suppose that the Consumer Price Index (CPI), a widely used measure of inflation in the U.S., rose from 100 in one year to 120 during the next year. The rate of inflation between the two (2) years is A. 120%. B. 220%. C. 20%. D. Cannot be determined without further information.
4. Suppose that 1982 is the base year for the Consumer Price Index (CPI) and in 2019 the CPI is 270. What does this...
4. Suppose that 1982 is the base year for the Consumer Price Index (CPI) and in 2019 the CPI is 270. What does this "270" mean? A. What cost $100 in 1982 on average cost 270 times as much in 2019 B. What cost $100 in 1982 on average cost $270 in 2019. C. What cost $100 in 1982 on average cost 0.27 times as much in 2019 D. What cost $100 in 1982 on average cost $27 more in...
Use the table below on the Canadian Consumer Price Index (CPI) to answer the following questions....
Use the table below on the Canadian Consumer Price Index (CPI) to answer the following questions. The base year is 2002. (1 mark each) YEAR 2014 2015 2016 2017 2018 CPI 125.2 126.6 128.4 130.4 133.4 136.0 2019 1. How much is the CPI in 2002? 2. Which year had the highest inflation rate? What was the inflation rate in that year? 3. What was the inflation rate in 2019?
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...
of 4 8. The table below shows the Consumer Price Index (CPI) for Zimbabwe and Russia....
of 4 8. The table below shows the Consumer Price Index (CPI) for Zimbabwe and Russia. After reading through some magazines, you find that the base year in Zimbabwe is 1994 and in Russia it is 1995 Zimbabwe Russia CPI CPI 34 1994 2002 1994 1995 2002 6912 670 Hint: to fal in the Hank spaces in the table, what is the CPI in the base year?) Show your work in the space below: Compute the inflation rate (percent change...
If inflation is estimated by an index like the consumer price index (CPI) to be higher...
If inflation is estimated by an index like the consumer price index (CPI) to be higher than it actually is, who is liable to be hurt by the error? a corporations that adjust worker salaries to keep pace with inflation b entrepreneurs who borrow from banks at a fixed rate of interest c consumers who pay a fixed percentage of purchases as sales tax d workers whose negotiated union wages include an inflation adjustment e people whose Social Security incomes...
Use the information in the table to calculate a consumer price index (CPI) and the inflation...
Use the information in the table to calculate a consumer price
index (CPI) and the inflation rate. The base year is 1975. Round
answers to two decimal places.
Market basket
Quantity
1975 prices
1976 prices
A dozen eggs
29
$1.10
$1.70
Calculator
19
$15.00
$17.00
Microwave oven
9
$180.00
$230.00
What is the CPI for 1975?
What is the CPI for 1976?
What is the inflation rate for 1976?
Use the information in the table to calculate a consumer price...
1. Answer the following questions regarding the Consumer Price Index For the CPI values shown below,...
1. Answer the following questions regarding the Consumer Price Index For the CPI values shown below, calculate the rate of inflation (please round to first decimal place) in each year from 1930 to 1933. a. Year 1929 1930 1931 1932 1933 CPI 51.3 50.0 45.6 40.9 38.8 b. Look up Consumer Price Index for All Urban Consumers: All Items (CPIAUCSL) on the St. Louis Fed's data site (FRED). Convert the CPI index series from 1948 to 2018 into inflation rates...
1) The Consumer Price Index (CPI) is a fixed basked price index. Which of the following...
1) The Consumer Price Index (CPI) is a fixed basked price index. Which of the following is a potential problem with fixed basket price indices? A) A fixed basket approach tends to overestimate the rate of inflation, because people tend to buy more of things as they get more expensive. B) A fixed basket approach tends to overestimate the rate of inflation, because people tend to buy less of things as they get more expensive. C) A fixed basket approach...
What is the Consumer Price Index (CPI) and how is it determined each month? How does...
What is the Consumer Price Index (CPI) and how is it determined each month? How does the Bureau of Labor Statistics (BLS) calculate the rate of inflation from one year to the next? What effect does inflation have on the purchasing power of a dollar? How does it explain differences between nominal and real interest rates? How does deflation differ from inflation? (Answer in your own words)
4. Suppose that 1982 is the base year for the Consumer Price Index (CPI) and in 2019 the CPI is 270. What does this "270" mean? A. What cost $100 in 1982 on average cost 270 times as much in 2019 B. What cost $100 in 1982 on average cost $270 in 2019. C. What cost $100 in 1982 on average cost 0.27 times as much in 2019 D. What cost $100 in 1982 on average cost $27 more in...
Use the table below on the Canadian Consumer Price Index (CPI) to answer the following questions. The base year is 2002. (1 mark each) YEAR 2014 2015 2016 2017 2018 CPI 125.2 126.6 128.4 130.4 133.4 136.0 2019 1. How much is the CPI in 2002? 2. Which year had the highest inflation rate? What was the inflation rate in that year? 3. What was the inflation rate in 2019?
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...
of 4 8. The table below shows the Consumer Price Index (CPI) for Zimbabwe and Russia. After reading through some magazines, you find that the base year in Zimbabwe is 1994 and in Russia it is 1995 Zimbabwe Russia CPI CPI 34 1994 2002 1994 1995 2002 6912 670 Hint: to fal in the Hank spaces in the table, what is the CPI in the base year?) Show your work in the space below: Compute the inflation rate (percent change...
Use the information in the table to calculate a consumer price
index (CPI) and the inflation rate. The base year is 1975. Round
answers to two decimal places.
Market basket
Quantity
1975 prices
1976 prices
A dozen eggs
29
$1.10
$1.70
Calculator
19
$15.00
$17.00
Microwave oven
9
$180.00
$230.00
What is the CPI for 1975?
What is the CPI for 1976?
What is the inflation rate for 1976?
Use the information in the table to calculate a consumer price...
1. Answer the following questions regarding the Consumer Price Index For the CPI values shown below, calculate the rate of inflation (please round to first decimal place) in each year from 1930 to 1933. a. Year 1929 1930 1931 1932 1933 CPI 51.3 50.0 45.6 40.9 38.8 b. Look up Consumer Price Index for All Urban Consumers: All Items (CPIAUCSL) on the St. Louis Fed's data site (FRED). Convert the CPI index series from 1948 to 2018 into inflation rates...
1) The Consumer Price Index (CPI) is a fixed basked price index. Which of the following is a potential problem with fixed basket price indices? A) A fixed basket approach tends to overestimate the rate of inflation, because people tend to buy more of things as they get more expensive. B) A fixed basket approach tends to overestimate the rate of inflation, because people tend to buy less of things as they get more expensive. C) A fixed basket approach...
Most questions answered within 3 hours.
-
a
dairy farmer notices that a citcular water trough near the barn has
become rusty with...
asked 3 minutes ago -
In a study of the accuracy of fast food drive-through orders,
Restaurant A had 283 accurate...
asked 5 minutes ago -
A share of common stock has just paid a dividend of $2.50. If
the expected long-run...
asked 14 minutes ago -
1. List all actors whose last names start
with letter "K"? The output needs to include the actor's...
asked 17 minutes ago -
1.The New England Merchants Bank Building in Boston is 152 m
high. On windy days it...
asked 20 minutes ago -
Can someone explain this code with comments I am supposed to dispay an array an add...
asked 34 minutes ago -
MKT2283 Sales Management Week 2 Assignment
Making Sales Management Decisions – Pronto Retail
Centers
Sales Management,...
asked 41 minutes ago -
Uranium is distributed in a form called yellow cake, which is
made from uranium ore. In...
asked 52 minutes ago -
Python:
Write a func that will create a list of random numbers. The
function will take...
asked 55 minutes ago -
Which of the following statements below is correct? There might
be more than one correct answer....
asked 58 minutes ago -
You find that the annual standard deviation of a stock's returns
is equal to 35%. For...
asked 1 hour ago -
A 2,000 kg car is traveling at 20.0 m/s down a long mountain
grade of 1.00%....
asked 1 hour ago