Homework Answers
Using GDP deflator:
Inflation rate from 2014 to 2015 = [(112.2 - 113.1) / 113.1] * 100 = -0.8%
Inflation rate from 2014 to 2015 = [(112.9 - 112.2) / 112.2] * 100 = 0.62%
Using CPI:
Inflation rate from 2014 to 2015 = [(126.6 - 125.2) / 113.1] * 100 = 1.12%
Inflation rate from 2014 to 2015 = [(128.4 - 126.6) / 112.2] * 100 = 1.42%
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13. The accompanying table contains two price indexes for the years 2014, 2015, and 2016: the...
Use the table below on the Canadian Consumer Price Index (CPI) to answer the following questions....
Use the table below on the Canadian Consumer Price Index (CPI) to answer the following questions. The base year is 2002. (1 mark each) YEAR 2014 2015 2016 2017 2018 CPI 125.2 126.6 128.4 130.4 133.4 136.0 2019 1. How much is the CPI in 2002? 2. Which year had the highest inflation rate? What was the inflation rate in that year? 3. What was the inflation rate in 2019?
Table 7.5 Refer to Table 7.5. Suppose 2014 is the base year. The price index in...
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Alternative price indexes Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most balanced picture of how prices fluctuate in the economy. Two of the most commonly used price indexes are the consumer price index (CPI) and the GDP deflator. The GDP deflator for this year is calculated by dividing the _______ using _______ by the _______ using and multiplying by 100. However, the CPI reflects only the prices of all...
The countries, X and Y, has consumer price indexes in 2015 equal to 160 (in country...
The countries, X and Y, has consumer price indexes in 2015 equal to 160 (in country X) and to 120 (in country Y) The base year is 2000. a) Which of the countries has experienced a higher inflation rate between the years 2000 and 2015. b) Suppose the CPI of Country Y in 2016 (with base year 2000) is equal to 130 and the CPI in 2016 of country X is 170. What can we say about the rate of...
(a) What is the CPI in 2015, 2016, and 2017 if 2015 is the base year?...
(a) What is the CPI in 2015, 2016, and 2017 if 2015 is the
base year?
(b) What is the (CPI) inflation 2015-2016 and 2016-2017?
(c) How does CPI differ in 2015 and 2016 if 2016 is the base
year?
(d) What effect does this have on your calculation of (CPI)
inflation between 2015-
3. Suppose you are told that a basket of goods to calculate a consumer price index contains the following items: 4 apples and 2 bottles of...
Imagine two countries, X and Y, with consumer price indexes in 2015 equal to 160 (in...
Imagine two countries, X and Y, with consumer price indexes in 2015 equal to 160 (in country X) and to 120 (in country Y). The base year is 2000 (a) (3 points) Which of the countries has experienced a higher inflation rate between the years 2000 and 2015? b) (7 points) Suppose the Consumer Price Index of country Y in 2016 (with base year 2000) is equal to 130 and the Consumer Price Index in 2016 of country X is...
Homework (Ch 11) Back to Assignment Attempts: 08 Average: 0.8/2 2. Alternative price indexes Because there...
Homework (Ch 11) Back to Assignment Attempts: 08 Average: 0.8/2 2. Alternative price indexes Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most balanced picture of how prices fluctuate in the economy. Two of the most commonly used price indexes are the consumer price index (CPI) and the GDP deflator. using The CPI for this year is calculated by dividing the by the using and multiplying by 100....
QUESTION 3 1301 Table below shows the price per kilogram (kg) and quantity of each of the three raw materials X, Y and Z for 2014, 2015 and 2016. Material Price (RM) Quantity (kg) 2014 2015 20162...
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The table below shows the GDP deflator and the CPI over five recent years. By what...
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5. Inflation and CPI Suppose in Economy A, the final goods produced in year 2015, 2016 and 2017 are milk, beef, gasoline, cloth. The quantities (Q) produced and prices (P) are given by the following: Year 2015 Qmilk Pmilk 200 2.35 220 2.49 233 2.79 (beer Pbeer lgasolin 120 3.30 400 123 3.35 430 145 3.47 440 Pgasoline (cloth Pcloth 1.12 510 2.33 1.15 512 2.47 1.20 523 2.67 2016 2017 Let 2015 be the base year and assume the...
Use the table below on the Canadian Consumer Price Index (CPI) to answer the following questions. The base year is 2002. (1 mark each) YEAR 2014 2015 2016 2017 2018 CPI 125.2 126.6 128.4 130.4 133.4 136.0 2019 1. How much is the CPI in 2002? 2. Which year had the highest inflation rate? What was the inflation rate in that year? 3. What was the inflation rate in 2019?
(a) What is the CPI in 2015, 2016, and 2017 if 2015 is the
base year?
(b) What is the (CPI) inflation 2015-2016 and 2016-2017?
(c) How does CPI differ in 2015 and 2016 if 2016 is the base
year?
(d) What effect does this have on your calculation of (CPI)
inflation between 2015-
3. Suppose you are told that a basket of goods to calculate a consumer price index contains the following items: 4 apples and 2 bottles of...
Imagine two countries, X and Y, with consumer price indexes in 2015 equal to 160 (in country X) and to 120 (in country Y). The base year is 2000 (a) (3 points) Which of the countries has experienced a higher inflation rate between the years 2000 and 2015? b) (7 points) Suppose the Consumer Price Index of country Y in 2016 (with base year 2000) is equal to 130 and the Consumer Price Index in 2016 of country X is...
Homework (Ch 11) Back to Assignment Attempts: 08 Average: 0.8/2 2. Alternative price indexes Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most balanced picture of how prices fluctuate in the economy. Two of the most commonly used price indexes are the consumer price index (CPI) and the GDP deflator. using The CPI for this year is calculated by dividing the by the using and multiplying by 100....
QUESTION 3 1301 Table below shows the price per kilogram (kg) and quantity of each of the three raw materials X, Y and Z for 2014, 2015 and 2016. Material Price (RM) Quantity (kg) 2014 2015 20162014 2015 2016 X 1.20 0.60 0.80 400 500 300 Y 1.50 2.00 2.50 300 450 350 Z 3.00 5.50 5.00 300 250 400 Calculate the a) Relative quantity index for materials X and Z for 2016 using 2014 as the base year and...
The table below shows the GDP deflator and the CPI over five recent years. By what percent did prices change between years for each measure? Calculate the annual inflation rate and then the inflation rate across the entire time period. Instructions: Enter your answers as percentages rounded to two decimal places. Change in GDP deflator Year 2012 2013 Change in CPI GDP deflator 100 105 CPI 100 104 2014 112 2015 123 110 113 120 2016 127 2012-2016
5. Inflation and CPI Suppose in Economy A, the final goods produced in year 2015, 2016 and 2017 are milk, beef, gasoline, cloth. The quantities (Q) produced and prices (P) are given by the following: Year 2015 Qmilk Pmilk 200 2.35 220 2.49 233 2.79 (beer Pbeer lgasolin 120 3.30 400 123 3.35 430 145 3.47 440 Pgasoline (cloth Pcloth 1.12 510 2.33 1.15 512 2.47 1.20 523 2.67 2016 2017 Let 2015 be the base year and assume the...
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