Homework Answers
Inflation rate between Period 2 and Period 3
= (Total expenditure in Period 3 - Total expenditure in Period 2)/Total expenditure in Period 2 X 100
= (1500 - 1475)/1475 x 100 = 25/1475 x 100 = 1.69%
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Question 33 The table below shows the total expenditure on a basket of goods and services...
Calculate Inflation using the change in cost of a basket of goods and services Question Zimbabwe...
Calculate Inflation using the change in cost of a basket of goods and services Question Zimbabwe is going through hyperinflation. The table below shows what Zimbabwe residents spent on a basket of goods and services in three consecutive years. Use this information to calculate the inflation rate since the previous year for 2017. (Round your answer to two decimal places.) Inflation Rate Year. 2015 2016 2017 Total Expenditure $10,440 $35,860 $425,045 Provide your answer below.
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Question 2 (15 Marks) Table below shows the price for basket of two goods, meat and...
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please include detailed steps with answers
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The below table shows a basket of hypothetical goods the typical college student purchased from 2016...
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Question 2 (15 Marks) Table below shows the price for basket of two goods, meat and...
Question 2 (15 Marks) Table below shows the price for basket of two goods, meat and fish. Year Price of meat (RM/kg) Price of fish (RM/kg) 2017 10 12 2018 12 15 2019 14 18 A. Compute the cost of the basket for 2017, 2018 and 2019. (6 marks) B. Using year 2017 as the base year, compute the CPI for 2017, 2018 and 2019. (6 marks) C. Compute inflation rate for 2019. (3 marks) BEC 2023 JULY, 2020
How to solve this Question 2 (15 Marks) Table below shows the price for basket of...
How to solve this
Question 2 (15 Marks) Table below shows the price for basket of two goods, meat and fish. Year Price of meat (RM/kg) Price of fish (RM/kg) 2017 10 12 2018 12 15 2019 14 18 A. Compute the cost of the basket for 2017, 2018 and 2019. (6 marks) B. Using year 2017 as the base year, compute the CPI for 2017, 2018 and 2019. (6 marks) C. Compute inflation rate for 2019. (3 marks)
The table below shows the prices of goods included in a "going to the movies" basket, purchased from 2001 to 2004...
The table below shows the prices of goods included in a "going to the movies" basket, purchased from 2001 to 2004. What is the amount spent in 2002 on this basket? "Going to the Movies basket 2001-2004 Items Qty (2001) (2001) Amount (2002) (2002) Amount (2003) (2003) Amount (2004) (2004) Amount Price Spent Price Spent Price Spent Price Spent Ticket 10 $7.50 S9 $9.50 Popcorn 10 $3.20 S3.25 $3.25 $3.50 Soda $2.20 $2.50 $8.50 Provide your answer below.
Calculate Inflation using the change in cost of a basket of goods and services Question Zimbabwe is going through hyperinflation. The table below shows what Zimbabwe residents spent on a basket of goods and services in three consecutive years. Use this information to calculate the inflation rate since the previous year for 2017. (Round your answer to two decimal places.) Inflation Rate Year. 2015 2016 2017 Total Expenditure $10,440 $35,860 $425,045 Provide your answer below.
QUESTION 12 . 1 POINT The table below shows the index numbers for the cost of a basket of goods and services in each period. Use this information to calculate the inflation rate for each period. Round to two decimal places. Inflation Rate Index Number 105 108 Period 1 Period 2 Period 3 Period 4 Provide your answer below: Period 2 = %; Period 3 = %; Period 4 =
The table below shows the price of the basket of goods and services for each of the following years: 2013 2014 2015 $85 per basket $97 per basket $102 per basket Using 2013 as the base year, calculate the consumer price index for each year Calculate the inflation rate from one year to the next. 2.
Question 2 (15 Marks) Table below shows the price for basket of two goods, meat and fish. Year Price of meat (RM/kg) Price of fish (RM/kg) 2017 10 12 2018 12 15 2019 14 18 A. Compute the cost of the basket for 2017, 2018 and 2019. (6 marks) B. Using year 2017 as the base year, compute the CPI for 2017, 2018 and 2019. (6 marks) C. Compute inflation rate for 2019. (3 marks)
please include detailed steps with answers
2. The table below shows the market basket of a hypothetical economy is given below. Item Cost in 2011 Cost in 2010 $500 $120 Rent, 2 BR apartment 60 Hamburgers $630 $150 10 Movie tickets $60 $70 Total expenditure $680 $850 CPI (Base = 2010) a. Complete the table. b. Calculate the inflation rate between 2010 and 2011. c. Suppose the CPI in 2012 is 150. Provide an interpretation for the value. d. Calculate...
The below table shows a basket of hypothetical goods the typical college student purchased from 2016 to 2018. 2a. What is the amount spent each year on the "basket" of goods with the quantities shown in column 2? Item 2017 $0.75 $0.40 $0.90 $2.15 2b. Construct the price index for a "basket" of college student goods in each year using 2016 as Qty 2016 2018 $0.50 $0.40 $0.70 $1.90 $0.85 $0.40 Good 1 4 Good 2 6 $0.95 $2.25 Good...
Question 2 (15 Marks) Table below shows the price for basket of two goods, meat and fish. Year Price of meat (RM/kg) Price of fish (RM/kg) 2017 10 12 2018 12 15 2019 14 18 A. Compute the cost of the basket for 2017, 2018 and 2019. (6 marks) B. Using year 2017 as the base year, compute the CPI for 2017, 2018 and 2019. (6 marks) C. Compute inflation rate for 2019. (3 marks) BEC 2023 JULY, 2020
How to solve this
Question 2 (15 Marks) Table below shows the price for basket of two goods, meat and fish. Year Price of meat (RM/kg) Price of fish (RM/kg) 2017 10 12 2018 12 15 2019 14 18 A. Compute the cost of the basket for 2017, 2018 and 2019. (6 marks) B. Using year 2017 as the base year, compute the CPI for 2017, 2018 and 2019. (6 marks) C. Compute inflation rate for 2019. (3 marks)
The table below shows the prices of goods included in a "going to the movies" basket, purchased from 2001 to 2004. What is the amount spent in 2002 on this basket? "Going to the Movies basket 2001-2004 Items Qty (2001) (2001) Amount (2002) (2002) Amount (2003) (2003) Amount (2004) (2004) Amount Price Spent Price Spent Price Spent Price Spent Ticket 10 $7.50 S9 $9.50 Popcorn 10 $3.20 S3.25 $3.25 $3.50 Soda $2.20 $2.50 $8.50 Provide your answer below.
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