Homework Answers
Inflation = (CPI in currrent year - CPI in previous year) / CPI in previous year * 100
inflation in 2010 = (214.07-208.04)208.04 * 100 = 6.03 / 208.04 * 100 = 2.90%
Similarly others will be calcualted
| Year | CPI | Inflation |
| 2009 | 208.04 | |
| 2010 | 214.07 | 2.90% |
| 2011 | 221.90 | 3.66% |
| 2012 | 228.10 | 2.79% |
| 2013 | 233.69 | 2.45% |
| 2014 | 246.69 | 5.56% |
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The table below shows six years of hypothetical CPI values for the United States. Using the...
Lecture 9 Suppose you have been given the following infromation from a government and asked to...
Lecture 9 Suppose you have been given the following infromation from a government and asked to compute the annual inflation rate. Instructions: Round your answers to two decimal places. CPI Values and Inflation Inflation Rate (percent) Year 2009 2010 2011 CPI 215.59 220.00 226.04 232.80 235.97 239.77 2012 2013 2014
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Using the data in the table below, calculate the CPI and the inflation rate in each...
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The table below lists hypothetical CPI and wage values for the United States from different decades....
The table below lists hypothetical CPI and wage values for the United States from different decades. a. Complete the table by computing the real income for each year shown in the table Instructions: Round your answers to two decimal places Nominal and Real Income Average Nominal Wage (dollars) $6,950 13,390 25,640 36,510 49,005 51,488 Ave rage Real Wage Year 1967 1977 1987 1997 2007 2013 CPI (dollars) 32.8 59.6 112 157.9 203.6 229.8 Instructions: Enter the year using all four...
The table below lists hypothetical CPI and wage values for the United States from different decades....
The table below lists hypothetical CPI and wage values for the United States from different decades. a. Complete the table by computing the real income for each year shown in the table. Instructions: Round your answers to two decimal places. Nominal and Real Income Year Average Nominal Wage (dollars) CPI Average Real Wage (dollars) 1967 $6,764 31.9 $ 1977 13,111 58.1 1987 25,030 109.6 1997 35,532 154.1 2007 47,983 198.2 2013 50,262 225 Instructions: Enter the year using all four...
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The table below shows the annual change in the average nominal wage and inflation rate since...
The table below shows the annual change in the average nominal wage and inflation rate since 2008. a. Compute the percentage change in real income for each year shown in the table. Instructions: In part a, round your answers to two decimal places. In parts b and c, enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Percentage Changes in Nominal Income...
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