If the CPI was 81 in 2014, 88 in 2015, 92 in 2016, 97 in 2017,...
If the CPI was 81 in 2014, 88 in 2015, 92 in 2016, 97 in 2017, and 100 in 2018 then the base year must be
A. 2014
B. 2015
C. 2016
D. 2017
E. 2018
F. The base year cannot be determined from the given information.
Homework Answers
E. 2018
In order to construct an index a base year is set typically at 100 and comparison is done with respect to that year.
Here for CPI value of 2018 is kept at 100, hence 2018 is base year.
(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...
Calculate inflation between 2014-2015 and 2015-2016 based on the following CPI data. YEAR CPI 2014 215.303...
Calculate inflation between 2014-2015 and 2015-2016 based on the following CPI data. YEAR CPI 2014 215.303 2015 214.537 2016 218.056 2014-2015: _____________________ 2015-2016: _____________________ What do you call what happened between 2015 and 2016? ________________________ Calculate the unemployment for each of the years shown based on the following data: YEAR Employed Labor Force 2013 145,362,000 154,287,000 2014 139,877,000 154,142,000 2015 139,064,000 153,889,000 2016 139,869,000 153,617,000 2013: _______________ 2014: _______________ 2015: _______________ 2016: _______________
The following information was provided by Mabie Company Year 2014 2015 2016 2017 2018 Ending Inventory...
The following information was provided by Mabie Company Year 2014 2015 2016 2017 2018 Ending Inventory at Average Cost S530,000 620.000 610.000 4 85.000 620.000 Cumulative Price Index 100 105 110 111 115 Mabie adopted the dollar-value LIFO method using 2014 as the base year. Required: a. Compute Mabie's ending inventory under the dollar-value LIFO method for the years 2014 through 2018. b. Prepare the journal entries for 2015 through 2018 to adjust inventory to the dollar value LIFO basis....
If the consumer price index was 88 in 2017,95 in 2018, and 100 in 2019, then...
If the consumer price index was 88 in 2017,95 in 2018, and 100 in 2019, then the base year must be 2017 The base year cannot be determined from the given information 2018 2019
13. The accompanying table contains two price indexes for the years 2014, 2015, and 2016: the...
13. The accompanying table contains two price indexes for the years 2014, 2015, and 2016: the GDP deflator and the CPI. For each price index, calculate the inflation rate from 2014 to 2015 and from 2015 to 2016. (Note: The GDP deflator has a base year of 2007 and the CPI has a base year of 2002.) Year GDP deflator CPI 2014 113.1 125.2 2015 112.2 126.6 2016 112.9 128.4
5. Inflation and CPI Suppose in Economy A, the final goods produced in year 2015, 2016...
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...
4303 0:02/3:21 1x co 1:34 West Trendia has computed its CPI for three years, using 2016...
4303 0:02/3:21 1x co 1:34 West Trendia has computed its CPI for three years, using 2016 as the base year. Instructions: Round your answers to one decimal place. 2015 2016 2017 CPI 97 100 96 What was the rate of inflation between 2015 and 2016? percent b. Between 2016 and 2017? percent C. Between 2015 and 2017? percent GE < Prev 3 4 of 6 Nex < # 2 3 $ 4. % 5 6 & 7 8 W E
Sales Cost of goods sold Accounts receivable 2018 2017 2016 2015 2014 $ 458,634 $ 299,761...
Sales Cost of goods sold Accounts receivable 2018 2017 2016 2015 2014 $ 458,634 $ 299,761 $ 233, 277 $ 170, 275 $ 122,500 231,917 151,481 119,889 87,088 61,250 22,244 17,476 15,933 9 ,944 8,379 Compute trend percents for the above accounts, using 2014 as the base year. (Round the percents to whole numbers.) Trend Percent for Net Sales: 1 Choose Denominator: Choose Numerator: Sales 2018: 2017: 2016: 2015: Trend Percent for Cost of Goods Sold: 1 Choose Denominator: Choose...
Sales Cost of goods sold Accounts receivable 2018 2017 2016 2015 2014 $ 515,774 $ 341,572...
Sales Cost of goods sold Accounts receivable 2018 2017 2016 2015 2014 $ 515,774 $ 341,572 $ 268,954 $ 181,114 $ 132,200 265,495 175,952 148,567 9 4,368 67,422 25,067 20,850 18,370 10,631 9 ,082 points Skipped Compute trend percents for the above accounts, using 2014 as the base year. (Round the percents to whole numbers.) Trend Percent for Net Sales: Choose Denominator: Choose Numerator: Sales eBook 2018: 2017: 2016: 2015: lint Print Trend Percent for Cost of Goods Sold: 1...
Check my work Sales Cost of goods sold Accounts receivable 2018 2017 2016 2015 2014 $...
Check my work Sales Cost of goods sold Accounts receivable 2018 2017 2016 2015 2014 $ 551,080 $ 357,844 $ 280,662 $ 195,583 $ 149, 300 289,012 187,629 148,994 103,003 77,636 26,727 20,862 19,281 11,422 10,242 Compute trend percents for the above accounts, using 2014 as the base year. (Round the percents to whole numbers.) Trend Percent for Net Sales: I Choose Denominator: Choose Numerator: Sales 2018: 2017: 2016: 2015: Trend Percent for Cost of Goods Sold: hoose Denominator: Choose...
(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...
The following information was provided by Mabie Company Year 2014 2015 2016 2017 2018 Ending Inventory at Average Cost S530,000 620.000 610.000 4 85.000 620.000 Cumulative Price Index 100 105 110 111 115 Mabie adopted the dollar-value LIFO method using 2014 as the base year. Required: a. Compute Mabie's ending inventory under the dollar-value LIFO method for the years 2014 through 2018. b. Prepare the journal entries for 2015 through 2018 to adjust inventory to the dollar value LIFO basis....
If the consumer price index was 88 in 2017,95 in 2018, and 100 in 2019, then the base year must be 2017 The base year cannot be determined from the given information 2018 2019
13. The accompanying table contains two price indexes for the years 2014, 2015, and 2016: the GDP deflator and the CPI. For each price index, calculate the inflation rate from 2014 to 2015 and from 2015 to 2016. (Note: The GDP deflator has a base year of 2007 and the CPI has a base year of 2002.) Year GDP deflator CPI 2014 113.1 125.2 2015 112.2 126.6 2016 112.9 128.4
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...
4303 0:02/3:21 1x co 1:34 West Trendia has computed its CPI for three years, using 2016 as the base year. Instructions: Round your answers to one decimal place. 2015 2016 2017 CPI 97 100 96 What was the rate of inflation between 2015 and 2016? percent b. Between 2016 and 2017? percent C. Between 2015 and 2017? percent GE < Prev 3 4 of 6 Nex < # 2 3 $ 4. % 5 6 & 7 8 W E
Sales Cost of goods sold Accounts receivable 2018 2017 2016 2015 2014 $ 458,634 $ 299,761 $ 233, 277 $ 170, 275 $ 122,500 231,917 151,481 119,889 87,088 61,250 22,244 17,476 15,933 9 ,944 8,379 Compute trend percents for the above accounts, using 2014 as the base year. (Round the percents to whole numbers.) Trend Percent for Net Sales: 1 Choose Denominator: Choose Numerator: Sales 2018: 2017: 2016: 2015: Trend Percent for Cost of Goods Sold: 1 Choose Denominator: Choose...
Sales Cost of goods sold Accounts receivable 2018 2017 2016 2015 2014 $ 515,774 $ 341,572 $ 268,954 $ 181,114 $ 132,200 265,495 175,952 148,567 9 4,368 67,422 25,067 20,850 18,370 10,631 9 ,082 points Skipped Compute trend percents for the above accounts, using 2014 as the base year. (Round the percents to whole numbers.) Trend Percent for Net Sales: Choose Denominator: Choose Numerator: Sales eBook 2018: 2017: 2016: 2015: lint Print Trend Percent for Cost of Goods Sold: 1...
Check my work Sales Cost of goods sold Accounts receivable 2018 2017 2016 2015 2014 $ 551,080 $ 357,844 $ 280,662 $ 195,583 $ 149, 300 289,012 187,629 148,994 103,003 77,636 26,727 20,862 19,281 11,422 10,242 Compute trend percents for the above accounts, using 2014 as the base year. (Round the percents to whole numbers.) Trend Percent for Net Sales: I Choose Denominator: Choose Numerator: Sales 2018: 2017: 2016: 2015: Trend Percent for Cost of Goods Sold: hoose Denominator: Choose...
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