onsider the following data that gives the quantity produced and unit price for three different goods...
onsider the following data that gives the quantity produced and unit price for three different goods across two different years to answer the following questions. Assume that the base year is 2012.
| Good | 2012 Price | 2012 Quantity | 2013 Price | 2013 Quantity |
| A | $2.00 | 500 | $2.50 | 600 |
| B | $4.00 | 1,000 | $5.00 | 900 |
| C | $2.00 | 200 | $1.00 | 300 |
What was the rate of inflation between the two years?
Group of answer choices
6.67 percent
19.44 percent
8.57 percent
2.38 percent
16.67 percent
Homework Answers
Therefore (B) 19.44 percent is
the answer to this question
Add Answer to:
onsider the following data that gives the quantity produced
and unit price for three different goods...
Consider the following data that gives the quantity produced and unit price for three different goods...
Consider the following data that gives the quantity produced and unit price for three different goods across two different years to answer the following questions. Assume that the base year is 2012. Good 2012 Price2012 Quantity 2013 Price 2013 Quantity $2.00 $4.00 $2.00 500 1,000 200 $2.50 $5.00 $1.00 600 900 300 What was the growth rate of real gross domestic product (GDP) between the two years? a) 1.67 percent b) o percent c) 3.2 percent d) 2.4 percent e)...
Question 23 (1 point) Consider the following data that gives the quantity produced and unit price...
Question 23 (1 point) Consider the following data that gives the quantity produced and unit price for three different goods across two different years to answer the following questions. Assume that the base year is 2012. 2012 Price $2.00 $4.00 $2.00 2012 Quantity 2013 Price $2.50 $5.00 $1.00 2013 Quantity 600 900 300 Good 500 1,000 200 C What was the real gross domestic product (GDP) in 2013? a) $5,400 b) $6,300 Oc) $6,450 d) $1,700 e) $13,600
Remaining Time: 50 minutes, 11 seconds. Question Completion Status: QUESTION 4 Consider the following data that...
Remaining Time: 50 minutes, 11 seconds. Question Completion Status: QUESTION 4 Consider the following data that gives the quantity produced and unit price for three different goods across two different years to answer the questions that follow. Assume that the base year is 2012. 2013 2012 Price 2012 Quantity 2013 Price Good $ 2 250 $3 300 $4 400 What was the GDP deflator in 2013? a. 120 b. 130 c. 103 d. 110 e. 108.3
Table 5.2 200 Year Price of Burgers Quantity of Price of Magazines Quantity of Burgers Magazines...
Table 5.2 200 Year Price of Burgers Quantity of Price of Magazines Quantity of Burgers Magazines 2017 $4.00 100 $2.00 180 2018 $5.00 120 $2.50 200 2019 $6.00 1150 $3.50 Refer to Table 5-2. Using the GDP deflator to measure the average level of prices and using 2017 as the base year, what is the economy's inflation rate? O a 20 percent for 2018 and 30 percent for 2019 O b.44.7 percent for 2015 and 45.5 percent for 2019 O...
Use the following table to answer the next question. The base year is 2007 3 Hot...
Use the following table to answer the next question. The base year is 2007 3 Hot Dogs Year Price Quantity 2005 $2.50 100 2006 4.00 100 2007 5.00 100 2008 8.00 150 2009 110.00 200 — Baseballs Bottles of Beer Price Quantity Price Quantity $2.50 50 $1.00 100 5. 00 100 2.00 150 5.00 100 2.00 200 8.00 200 г 4.00 — 200 10.00 1200 14.00 250 Compared to the base year, the rate of inflation for the year 2007...
The table below gives the CPI and the price of gasoline per gallon in the fictitious...
The table below gives the CPI and the price of gasoline per gallon in the fictitious country "Alpha' between 2010 and 2015. For each year find the percent change in the price of gasoline from the previous year's price, the CPI Inflation rate, and the change in the relative price of gasoline. Instructions: Enter your responses rounded to one decimal place. If you are entering any negative numbers be sure to include a negative sign() in front of those numbers....
Assume that an economy produces only three goods; Computers, cars, and pizza. Table 1 gives the price and quantity for each good and the number of employed and unemployed individuals for the years 2010-2013. Table 2 gives the fixed basket used for calcula
Assume that an economy produces
only three goods; Computers, cars, and pizza. Table 1 gives the price
and quantity for each good and the number of employed and unemployed
individuals for the years 2010-2013. Table 2 gives the fixed basket used
for calculating the CPI. Assume that the base year is 2011 and show
your work! Table 1 - Price and Quantity of Goods Sold in 2010-2013 2010
2011 2012 2013 P Q P O P Q 25 Computers Cars...
The country of Sylvania produces and consumes only three goods: Red Bull, pizza, and T-shirts. The quantity produced and price of each good in 2011 and 2012 are given in the following table:
The country of Sylvania produces and consumes only three goods: Red Bull, pizza, and T-shirts. The quantity produced and price of each good in 2011 and 2012 are given in the following table:20112012QuantityPriceQuantityPriceT-Shirts90$25108$25Red Bull (cans)510$2510$3Pizza (slices)980$3900$6Nominal GDP in 2011 was $nothing and nominal GDP in 2012 was $nothing. (Enter your responses as integers.)If 2011 is the base year, real GDP in 2011 was $nothing and real GDP in 2012 was $nothing. (Enter your responses as integers.)Based on your answer above, the percentage change in real GDP between 2011...
Question 7 (1 point) Price of taxi ride $4 60 80 Quantity of taxi rides Refer...
Question 7 (1 point) Price of taxi ride $4 60 80 Quantity of taxi rides Refer to the above diagram. If the price of a taxi ride increases from $6 to $8, producer surplus for this taxi driver will (rise, fall) by Include the $ sign and separate your two answers only with a comma and no space. For example, if your answer is" fall by $60.50, show this as fall,$60.50. If your answer is Eighty dollars, show this as...
Only THIS SIDE MONOPOLY Woreksiteet Hint: Under perfect competition price is fixed for a small producer...
Only THIS SIDE MONOPOLY Woreksiteet Hint: Under perfect competition price is fixed for a small producer and MR is the same as price. Under monopoly demand is down sloping and price changes at different quantities. Therefore under monopoly MR is no longer the same as price. You need to calculate it. MR equals change in TR divided by change in Q. TR is still the product of price multiplied by quantity and the rules of profit maximization are the same...
Consider the following data that gives the quantity produced and unit price for three different goods across two different years to answer the following questions. Assume that the base year is 2012. Good 2012 Price2012 Quantity 2013 Price 2013 Quantity $2.00 $4.00 $2.00 500 1,000 200 $2.50 $5.00 $1.00 600 900 300 What was the growth rate of real gross domestic product (GDP) between the two years? a) 1.67 percent b) o percent c) 3.2 percent d) 2.4 percent e)...
Question 23 (1 point) Consider the following data that gives the quantity produced and unit price for three different goods across two different years to answer the following questions. Assume that the base year is 2012. 2012 Price $2.00 $4.00 $2.00 2012 Quantity 2013 Price $2.50 $5.00 $1.00 2013 Quantity 600 900 300 Good 500 1,000 200 C What was the real gross domestic product (GDP) in 2013? a) $5,400 b) $6,300 Oc) $6,450 d) $1,700 e) $13,600
Remaining Time: 50 minutes, 11 seconds. Question Completion Status: QUESTION 4 Consider the following data that gives the quantity produced and unit price for three different goods across two different years to answer the questions that follow. Assume that the base year is 2012. 2013 2012 Price 2012 Quantity 2013 Price Good $ 2 250 $3 300 $4 400 What was the GDP deflator in 2013? a. 120 b. 130 c. 103 d. 110 e. 108.3
Table 5.2 200 Year Price of Burgers Quantity of Price of Magazines Quantity of Burgers Magazines 2017 $4.00 100 $2.00 180 2018 $5.00 120 $2.50 200 2019 $6.00 1150 $3.50 Refer to Table 5-2. Using the GDP deflator to measure the average level of prices and using 2017 as the base year, what is the economy's inflation rate? O a 20 percent for 2018 and 30 percent for 2019 O b.44.7 percent for 2015 and 45.5 percent for 2019 O...
Use the following table to answer the next question. The base year is 2007 3 Hot Dogs Year Price Quantity 2005 $2.50 100 2006 4.00 100 2007 5.00 100 2008 8.00 150 2009 110.00 200 — Baseballs Bottles of Beer Price Quantity Price Quantity $2.50 50 $1.00 100 5. 00 100 2.00 150 5.00 100 2.00 200 8.00 200 г 4.00 — 200 10.00 1200 14.00 250 Compared to the base year, the rate of inflation for the year 2007...
The table below gives the CPI and the price of gasoline per gallon in the fictitious country "Alpha' between 2010 and 2015. For each year find the percent change in the price of gasoline from the previous year's price, the CPI Inflation rate, and the change in the relative price of gasoline. Instructions: Enter your responses rounded to one decimal place. If you are entering any negative numbers be sure to include a negative sign() in front of those numbers....
Question 7 (1 point) Price of taxi ride $4 60 80 Quantity of taxi rides Refer to the above diagram. If the price of a taxi ride increases from $6 to $8, producer surplus for this taxi driver will (rise, fall) by Include the $ sign and separate your two answers only with a comma and no space. For example, if your answer is" fall by $60.50, show this as fall,$60.50. If your answer is Eighty dollars, show this as...
Only THIS SIDE MONOPOLY Woreksiteet Hint: Under perfect competition price is fixed for a small producer and MR is the same as price. Under monopoly demand is down sloping and price changes at different quantities. Therefore under monopoly MR is no longer the same as price. You need to calculate it. MR equals change in TR divided by change in Q. TR is still the product of price multiplied by quantity and the rules of profit maximization are the same...
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