Question

The price of an average single-family home in Shreveport, Louisiana was $138,500 in 2008 and the average price was $164,000 i
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Correct Answer:

A

Cost of living has increased as price index has increased from 208.7 in 2008 to 220 in 2011. But, price of the house increased faster as actual price in 2011 is higher than the CPI adjusted price in 2011.

==========

Correct Answer:

C

Working note:

Inflation rate = (191/158 -1)

Inflation rate = 20.9%

Add a comment
Know the answer?
Add Answer to:
The price of an average single-family home in Shreveport, Louisiana was $138,500 in 2008 and the...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Using the Consumer Price Index (CPI) detailed in the table below, Year CPI CPI Year 2003...

    Using the Consumer Price Index (CPI) detailed in the table below, Year CPI CPI Year 2003 1989 1990 1991 1992 1993 1994 1995 124.0 130.7 136.2 140.3 144.5 148.2 152.4 156.9 160.5 163.0 2004 2005 2006 2007 2008 2009 2010 184.0 188.9 195.3 201.6 207.3 215.3 214.5 218.1 224.9 229.6 233.0 236.7 237.0 240.0 1996 1997 1998 1999 2000 2011 2012 2013 2014 166.6 172.2 177.1 179.7 2001 2002 2015 2016 Instructions: Enter your responses rounded to one decimal place...

  • The typical​ (median) price of a​ single-family home in a certain region rose from ​$77 comma...

    The typical​ (median) price of a​ single-family home in a certain region rose from ​$77 comma 600 in 1992 to ​$184 comma 000 in 2007. Calculate the relative change in price from 1992 to 2007​, and compare it to the overall rate of inflation as measured by the Consumer Price Index. Home increased by?

  • 3. The Consumer Price Index (CPI) represents the average price of goods that households consume. Many...

    3. The Consumer Price Index (CPI) represents the average price of goods that households consume. Many thousands of goods are included in such an index. Here consumers are repre- sented as buying only food (pizza) and gas as their basket of goods. Below is a representation of the kind of data the Bureau of Economic Analysis (BEA) collects to construct a consumer price index. In the base year, 2008, both the prices of goods purchased and the quantity of goods...

  • QUESTION 1 AlpenPleasure Co. produces 1000 boxes of chocolate. Each box sells for $30. AlpenPleasure pays...

    QUESTION 1 AlpenPleasure Co. produces 1000 boxes of chocolate. Each box sells for $30. AlpenPleasure pays wages of $10,000 and buys $15,000 worth of cocoa beans and other ingredients needed to produce the chocolate. What is AlpenPleasure's contribution (value-added) to GDP? $5,000 $45,000 $15,000 $20,000 QUESTION 2 There is currently a lot of debate in the U.S. about raising the minimum wage. As a contribution to this debate, the Wall Street Journal recently reported the following numbers: In 1980, the...

  • macroeconomic please solve it all i need help 8. If the price of coffee decreases, all...

    macroeconomic please solve it all i need help 8. If the price of coffee decreases, all else held coestant, the Law of Demand states that a firms will produce more coffee b. people will buy more coffee 9. If the price of coffee decreases, all else held constant, the Law of Supply states that a firms will produce more coffee b. people will buy more coffee e. firms will produce less coffee d people will buy more milk shakes c....

  • How to start it? Lesson 1.9 News in the Data Age 131 Applications Name Thirt York...

    How to start it? Lesson 1.9 News in the Data Age 131 Applications Name Thirt York Times (T), the Post (P). the Daily News (D). or some other source (O) rty random people at a subway station in New York City were asked what their most common source of news is: The New 1. Do you think this would be a representative sample for all New Yorkers? Why or why not? t would male? to be 2. Responses are summarized...

  • Using data from the Southwest case, create a chart that plots the relationship between each airline’s...

    Using data from the Southwest case, create a chart that plots the relationship between each airline’s market share, in terms of revenue or airline seat miles flown, and its profitability for two periods: 1995-2000 and 2001-2005. Does your analysis suggest that market share is correlated with profitability in this industry? If you exclude Southwest Airlines and Jet Blue airlines from the analysis (companies that use “point-to-point” route structure rather than a “hub and spoke” route structure), how well does market...

  • I need Summary of this Paper i dont need long summary i need What methodology they used , what is the purpose of this...

    I need Summary of this Paper i dont need long summary i need What methodology they used , what is the purpose of this paper and some conclusions and contributes of this paper. I need this for my Finishing Project so i need this ASAP please ( IN 1-2-3 HOURS PLEASE !!!) SPECIAL ARTICLES tole of Monetary Policy C Rangarajan What should be the objectives of monetary policy? Does the objective of price stability conflict with the goal of achieving...

  • QUESTION 10 Consider the monthly data, including the estimates for March 2020, and the information in...

    QUESTION 10 Consider the monthly data, including the estimates for March 2020, and the information in the articles. Which of the following is the best analysis of and prediction for the money market in the U.S. economy for the next few months?   a. Shortages are causing panic buying by households, which has increased money demand. Lenders are increasing their lending to keep up with the needs of households and businesses. Money demand is increasing more than money supply. b. Shortages...

  • SECTION A (50) Read the case study below and answer the questions. SHORT RUN STABILIZATION AND...

    SECTION A (50) Read the case study below and answer the questions. SHORT RUN STABILIZATION AND LONG RUN COMPETITIVENESS: THE LAVITAN CASE Growth of a young country Latvia – a small, young country on the east coast of the Baltic Sea – has recently earned the title of a ‘‘tiger’’. After gaining its independence from the Soviet Union in 1991, the country embarked upon a challenging road of transitioning from a planned to a market economy. The first decade proved...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT