Homework Answers
Real income= (nominal income/CPI) ×100
Real income for 2010 measured in 2005 dollars= (60000/122)×100= 49180
Real income for 2010 measured in 2015 dollars=
(60000/165)/100= 36363
Amswer is option 4.
Less than; less than.
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An individual earned $60,000 per year in 2010. Consider the following values for the CPI: 2005...
Question 45 An individual earned $60,000 per year in 2010. Consider the following values for the...
Question 45 An individual earned $60,000 per year in 2010. Consider the following values for the CPI: 2005 122 2010 150 2015 165 The individual's real income in 2010 measured in 2005 dollars is his nominal income in 2010, The individual's real income in 2010 measured in 2015 dollars is his nominal income in 2010 more than more than O less than more than less than: less than more than less than • Previous Not saved 50 w 30 MacBook...
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time? Explain.
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between 2009 and 2010 is -2%. (i) What is the CPI in 2009? (ii)
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The following graph shows the inflation rate in the US between 1965 and 2015. Inflation 16% rate 14 (percent) 12 10 8 6 4 rumah un 2 0 1975 1985 1995 2005 -21965 2015 -4 (a) From 1965 to 1995, does CPI in the US always increase over time? Explain. (b) Suppose 2009 is the base year, and the inflation rate between 2009 and 2010 is -2%. (i) What is the CPI in 2009? (ii) Calculate the CPI in 2010....
The following graph shows the inflation rate in the US between
1965 and 2015.
(a) From 1965 to 1995, does CPI in the US always increase over
time? Explain.
(b) Suppose 2009 is the base year, and the inflation rate
between 2009 and 2010 is -2%. (i) What is the CPI in 2009? (ii)
Calculate the CPI in 2010. (iii) Between 2009 and 2010, the nominal
interest rate is 3%, calculate the real interest rate.
(c) Between 1970 and 1985,...
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