Consider the following price and quantity data for three products from 2008 to 2010. Year 2008...
Consider the following price and quantity data for three products from 2008 to 2010. Year 2008 Product 1 $13.70 990 $15.20 970 $11.00 120 Price Quantity Price Quantity Price Quantity Product 2 $11.30 1,110 $11.40 1,210 $11.00 1,290 Product 3 $11.90 850 $11.70 790 $17.00 800 2009 2010 Click here for the Excel Data File a. Compute the simple price index for each product, using 2008 as the base year. (Round your answers to 2 decimal places.) Simple Price Index...
10.00 points Exercise 19-13 Static Consider the following price and quantity data of three products from 2008 to 2010 2008 Quantity 2009 Quantity 2010 Quantity Price Price$14.90 Price Product 1Product 2 Product 3 14.30$13.90 $18.10 1,110 $13.70 1,220 800 $18.50 790 $15.50 $13.80 $17.90 1,290 810 Compute the following aggregate price indices, given a base year of 2008 he ueighed roanaswers te2 decima place Unweighted Aggregate Year 2008 2009 2010 O Type here to search
The economy of Tuland produces only two products fish and calculators. The following information is available for production and prices of Tuland's products for the years 2009 and 2010. Quantity of fish Quantity of calculators Price of fish Price of calculators 2009 120 100 $10.00 $20.00 2010 144 130 $11.50 $22.00 Using the above information, calculate the following values. (Enter your responses rounded to two decimal places.) GDP for 2009 in 2009's prices GDP for 2009 in 2010's prices GDP...
Consider the simple economy that produces only three products. Use the information in the following table to calculate the (annual rate of) inflation for 2018 as measured by the consumer price index (CPI). BASE YEAR (2010) 2017 Price $11.00 2.45 15.00 2018 Price $16.20 2.40 14.00 Quantity Price $10.00 2.00 15.00 Product Haircuts Movies CPI 9 The inflation rate for 2018 as measured by the consumer price index s % Enter your response rounded to two decimal places.
Consider the simple economy that produces only three products. Use the information in the following table to calculate the (annual rate of) inflation for 2018 as measured by the consumer price index (CPI). 2017 2018 BASE YEAR (2010) Quantity Price $10.00 2.00 15.00 Product Haircuts Hamburgers Movies 2 Price $11.00 2.45 15.00 Price $16.20 2.40 14.00 The inflation rate for 2018 as measured by the consumer price index (CPI) is %. (Enter your response rounded to two decimal places.)
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)...
We know that two of the determinants for demand are the price of the good and the income of the consumer. Included in the excel handout (take-home excel is data on the three variables, from 1984 through 2016. Using excel, estimate the following modl Y Chicken Income ( 1000s] 24.897 26.061 1985 1986 1987 1988 O. 763 0.835 0.785 0.854 0.327 27.225 28.906 23.943 1383 57.8 CO. 12E The variables are defined as follows 30.636 1990 1991 1434 1992 1993...