Homework Answers
Inflation increase = 126.6 - 117.1 = (9.5 / 117.1 ) x 100 = 8.11.
Patricks salary increase = 34,000 - 32,000 = 2000.
(2000 / 32,000 ) x 100 = 6.25
Leonas salary increase = 46500 - 42,000 = 4500.
4500 / 42000 ) x 100 = 10.71
Answer is "C". Leona is keeping up with inflation.
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 4 0.25 pts 4. The consumer price index (CPI) is 150 in year 1, 156...
Question 4 0.25 pts 4. The consumer price index (CPI) is 150 in year 1, 156 in year 2, and 160 in year 3. What is the inflation rate for year 2? Round to nearest whole percentage. a. 3% b.4% O c.6% O d. 7% Question 5 0.25 pts 5. Which of the following is NOT a cost of inflation? a. unexpected redistribution of wealth and income b. reduction in the value of cash that is held c. higher real...
3. (5 pts) In 1990, the CPI-U was 130.7. In 2000, the CPI-U was 172.2 In 2010, the CPI-U was 218....
3. (5 pts) In 1990, the CPI-U was 130.7. In 2000, the CPI-U was 172.2 In 2010, the CPI-U was 218.056 a. What is the percentage change in the price level from 1990 to 2000? b. What is the percentage change in the price level from 2000 to 2010? c. Was inflation higher during the 1990s to the 2000s? 4. (5 pts) (1) Nominal GDP in 1998 was $9.062.817 Trillion and the GDP deflator in 1998 was 71.84296. (2) Nominal...
just answers not explanations w wer Question 1. Year CPI 100 120 135 1. The inflation...
just answers not explanations
w wer Question 1. Year CPI 100 120 135 1. The inflation rate for this economy in Year 3 is : A B C D 15% 12.5% 20% 35% 2. An example of frictional unemployment would be: A B C D Glenys not being able to find work due to poor economic conditions Soe leaving her job to look for a new teaching position Martin taking early retirement from the workforce as work is difficult to...
Question 2 15 pts What is the Consumer Price Index (CPI) and how is it determined...
Question 2 15 pts What is the Consumer Price Index (CPI) and how is it determined each month? How does the Bureau of Labor Statistics 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?
just need answers not the explanations swer Question 1. Year CPI 100 120 135 1. The...
just need answers
not the explanations
swer Question 1. Year CPI 100 120 135 1. The inflation rate for this economy in Year 3 is: A B C D 15% 12.5% 20% 399 • Aum officina unemployment would be Glen netlig alde in and work we op om condition Sueltager job to lock few ouching to a ti in early rentement from bewwkforce as work is difficult to find e rsitachile still not being demod in the mari. C D...
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...
please show work and explain your answer so I also can understand. thank you D Question 7 2.5 pts Consider this...
please show work and explain your answer so I also can
understand. thank you
D Question 7 2.5 pts Consider this information: In 1980, Sam made $32,000 per year. In 2019, his cousin Nick makes $65,000. Assume the CPI is currently 256 and was 82.4 in 1980. Sam says that, if we adjust for inflation, he actually made more than Nick does now when he started work in 1980. You want to find out if he's right. Which person makes...
Question 9 1 pts Consider the following table: The economy in the base year 2018 produced:...
Question 9 1 pts Consider the following table: The economy in the base year 2018 produced: Item Coffee Pizza Beer Quantity 20 cups 22 pizzas 40 litres Price $3 per cup $10 per pizza $3 per litre In 2019 the same economy produced: Item Quantity Coffee 24 cups Pizza 25 pizzas Beer 42 litres Price $2 per cup $9 per pizza $3.50 per litre Which of the following is the rate of consumer price inflation and real GDP growth between...
question 1: nominal GDP for 2016 question 2: real gdp for 2015 question 3: GDP deflator...
question 1: nominal GDP for 2016
question 2: real gdp for 2015
question 3: GDP deflator for 2014
question 4: calculate cost/price of the market basket for
2015
question 5: calculate CPI for 2016
question 6: use CPI to calculate the inflation rate
from 2014 to 2015
question 7: which person makes more in
inflation-adjusted terms or (real) terms? would it change if nick
made 82k a year instead?
question 8: best too look at pic.
Note: please show work...
Question 4 0.25 pts 4. The consumer price index (CPI) is 150 in year 1, 156 in year 2, and 160 in year 3. What is the inflation rate for year 2? Round to nearest whole percentage. a. 3% b.4% O c.6% O d. 7% Question 5 0.25 pts 5. Which of the following is NOT a cost of inflation? a. unexpected redistribution of wealth and income b. reduction in the value of cash that is held c. higher real...
3. (5 pts) In 1990, the CPI-U was 130.7. In 2000, the CPI-U was 172.2 In 2010, the CPI-U was 218.056 a. What is the percentage change in the price level from 1990 to 2000? b. What is the percentage change in the price level from 2000 to 2010? c. Was inflation higher during the 1990s to the 2000s? 4. (5 pts) (1) Nominal GDP in 1998 was $9.062.817 Trillion and the GDP deflator in 1998 was 71.84296. (2) Nominal...
just answers not explanations
w wer Question 1. Year CPI 100 120 135 1. The inflation rate for this economy in Year 3 is : A B C D 15% 12.5% 20% 35% 2. An example of frictional unemployment would be: A B C D Glenys not being able to find work due to poor economic conditions Soe leaving her job to look for a new teaching position Martin taking early retirement from the workforce as work is difficult to...
Question 2 15 pts What is the Consumer Price Index (CPI) and how is it determined each month? How does the Bureau of Labor Statistics 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?
just need answers
not the explanations
swer Question 1. Year CPI 100 120 135 1. The inflation rate for this economy in Year 3 is: A B C D 15% 12.5% 20% 399 • Aum officina unemployment would be Glen netlig alde in and work we op om condition Sueltager job to lock few ouching to a ti in early rentement from bewwkforce as work is difficult to find e rsitachile still not being demod in the mari. C D...
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...
please show work and explain your answer so I also can
understand. thank you
D Question 7 2.5 pts Consider this information: In 1980, Sam made $32,000 per year. In 2019, his cousin Nick makes $65,000. Assume the CPI is currently 256 and was 82.4 in 1980. Sam says that, if we adjust for inflation, he actually made more than Nick does now when he started work in 1980. You want to find out if he's right. Which person makes...
Question 9 1 pts Consider the following table: The economy in the base year 2018 produced: Item Coffee Pizza Beer Quantity 20 cups 22 pizzas 40 litres Price $3 per cup $10 per pizza $3 per litre In 2019 the same economy produced: Item Quantity Coffee 24 cups Pizza 25 pizzas Beer 42 litres Price $2 per cup $9 per pizza $3.50 per litre Which of the following is the rate of consumer price inflation and real GDP growth between...
question 1: nominal GDP for 2016
question 2: real gdp for 2015
question 3: GDP deflator for 2014
question 4: calculate cost/price of the market basket for
2015
question 5: calculate CPI for 2016
question 6: use CPI to calculate the inflation rate
from 2014 to 2015
question 7: which person makes more in
inflation-adjusted terms or (real) terms? would it change if nick
made 82k a year instead?
question 8: best too look at pic.
Note: please show work...
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