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![Inflation in 1983 = [ (CPI 1983 – CPI 1982) / CPI 1982 ] x 100 Inflation in 1983 = [ (114 - 107)/107 ] x 100 Inflation in 198](http://img.homeworklib.com/questions/d0f262b0-60e6-11eb-b097-51142b9530b0.png?x-oss-process=image/resize,w_560)
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QUESTION 25 In country A the base year for CPI has been 1980. Given the following...
JUESTION 44 In country A, the base year for CPI has been 1980. Given the following...
JUESTION 44 In country A, the base year for CPI has been 1980. Given the following data, what is the inflation rate over the one year period ending 19837 Round your answer to 2 digits after the decimal point. Leave out the percentage sign, that is, if your answer is 1.23%, type 1.23, not 1.23%, not 0.0123. Year CPI 1980 100 1981 103 107 1982 1983 118 1984 122
QUESTION 29 3 points 3 points Save Answer Save Answer happens when there is a decrease...
QUESTION 29 3 points 3 points Save Answer Save Answer happens when there is a decrease in the overall price level. QUESTION 30 3 points Save Answer This morning in the supermarket, you found an old shopping list in your wallet and the receipt from the last year for all the things on the list. You wanted to do a quick economics experiment so you bought everything on the list again for $122. The receipt says that on the same...
The following table shows data on a hypothetical country's real GDP from 1980 through 1988:
The following table shows data on a hypothetical country's real GDP from 1980 through 1988:YearReal GDP(Billions of Dollars)198046019814751982480198349019845101985515198650519875001988505The green line on the following graph shows the economy's long-term growth trend.Use the blue points (circle symbol) to plot the real GDP in each of the years listed. (Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.) Next, place the black point (plus symbol) on the graph to indicate the...
QUESTION 3 3 points Save Answer Suppose a country produces two final goods only, good A...
QUESTION 3 3 points Save Answer Suppose a country produces two final goods only, good A and good B. In 2017, the price for good A was $2 and the price for good B was $10. In 2018, the prices for good A and good B were $4 and $10 respectively, and the outputs of good A and B were 110 units and 205 units respectively. In 2019, the prices for good A and good B are $5 and $15...
Suppose a country produces two final goods only, good A and good B. In 2017, the...
Suppose a country produces two final goods only, good A and good B. In 2017, the price for good A was $3 and the price for good B was $7. In 2018, the prices for good A and good B were $3 and $11 respectively, and the outputs of good A and B were 103 units and 202 units respectively. In 2019, the prices for good A and good B are $7 and $11 respectively, the outputs are 122 units...
QUESTION 13 3 points 3 points Save Answer Save Answe Suppose a one year bond with...
QUESTION 13 3 points 3 points Save Answer Save Answe Suppose a one year bond with a face value of $109 can now be bought at a price of $91. What is the interest rate now? Round your answer to 2 digits after the decimal point. Leave out the percentage sign, that is, if your answer is 1.23%, type 1.23, not 1.23%, not 0.0123.
QUESTION 7 3 points Save Answer Suppose last year, there are 101 million people employed in...
QUESTION 7 3 points Save Answer Suppose last year, there are 101 million people employed in the economy. The total population last year was 234 and the unemployment rate was 2.596. How many millions of people are not in the labor force? Round your answer to 2 digits after the decimal point. Leave out the unit of measurement that is, if your answer is 1.23 millions, type 1.23, not "1.23 millions", not 1.230.000. QUESTION 8 3 points Save Answer Suppose...
1. If rent for a particular apartment was $530/month in 1980 (CPI = 82.4), what would be the comparable rent in 1990 (CP...
1. If rent for a particular apartment was $530/month in 1980 (CPI = 82.4), what would be the comparable rent in 1990 (CPI 130.7)? Round your answer to the nearest cent (i.e. two decimal places). Only enter the number, not the dollar sign ($). 2. Which of the following is not one of the 8 major categories of the CPI, as of 1998? Apparel Dairy and related products Medical care Recreation 3. The CPI's at the start of each decade...
Panel (b) A decrease in aggregate demand 1.20 1.18 1.16 1.14 1.12 AD1 AD2 1.10 $11,600...
Panel (b) A decrease in aggregate demand 1.20 1.18 1.16 1.14 1.12 AD1 AD2 1.10 $11,600 11,800 12,000 12,200 12,400 12,600 -00 Real GDP (billions of base-year dollars) per year ear Price level (base year = 1.00) QUESTION 3 3 points Save Answer Look at Panel (b) of Figure 7.2. Suppose the curve AD1 is the aggregate demand curve in year 1 and AD2 is that in year 2, and that the aggregate supply is 11,800 billions at all price...
In late 1980, the U.S. Commerce Department released new data showing inflation was 15%. At the...
In late 1980, the U.S. Commerce Department released new data showing inflation was 15%. At the time, the prime rate of interest was 21%, a record high. However, many investors expected the new Reagan administration to be more effective in controlling inflation than the Carter administration had been. Moreover, many observers believed that the extremely high interest rates and generally tight credit, which resulted from the Federal Reserve System's attempts to curb the inflation rate, would lead to a recession,...
JUESTION 44 In country A, the base year for CPI has been 1980. Given the following data, what is the inflation rate over the one year period ending 19837 Round your answer to 2 digits after the decimal point. Leave out the percentage sign, that is, if your answer is 1.23%, type 1.23, not 1.23%, not 0.0123. Year CPI 1980 100 1981 103 107 1982 1983 118 1984 122
QUESTION 29 3 points 3 points Save Answer Save Answer happens when there is a decrease in the overall price level. QUESTION 30 3 points Save Answer This morning in the supermarket, you found an old shopping list in your wallet and the receipt from the last year for all the things on the list. You wanted to do a quick economics experiment so you bought everything on the list again for $122. The receipt says that on the same...
QUESTION 3 3 points Save Answer Suppose a country produces two final goods only, good A and good B. In 2017, the price for good A was $2 and the price for good B was $10. In 2018, the prices for good A and good B were $4 and $10 respectively, and the outputs of good A and B were 110 units and 205 units respectively. In 2019, the prices for good A and good B are $5 and $15...
QUESTION 13 3 points 3 points Save Answer Save Answe Suppose a one year bond with a face value of $109 can now be bought at a price of $91. What is the interest rate now? Round your answer to 2 digits after the decimal point. Leave out the percentage sign, that is, if your answer is 1.23%, type 1.23, not 1.23%, not 0.0123.
QUESTION 7 3 points Save Answer Suppose last year, there are 101 million people employed in the economy. The total population last year was 234 and the unemployment rate was 2.596. How many millions of people are not in the labor force? Round your answer to 2 digits after the decimal point. Leave out the unit of measurement that is, if your answer is 1.23 millions, type 1.23, not "1.23 millions", not 1.230.000. QUESTION 8 3 points Save Answer Suppose...
Panel (b) A decrease in aggregate demand 1.20 1.18 1.16 1.14 1.12 AD1 AD2 1.10 $11,600 11,800 12,000 12,200 12,400 12,600 -00 Real GDP (billions of base-year dollars) per year ear Price level (base year = 1.00) QUESTION 3 3 points Save Answer Look at Panel (b) of Figure 7.2. Suppose the curve AD1 is the aggregate demand curve in year 1 and AD2 is that in year 2, and that the aggregate supply is 11,800 billions at all price...
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