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- Year (Base year) Q.3.2.1 2018 2019 2020 Cost of a basket (R) of consumer goods/services 1850 2190 2380 2021 Use the information in Table 3-2 to measure the consumer price index for 2019, 2020 and 2021 respectively. Show your calculations and round off to two decimal places. 2560What is the value of the CPI in the base period? The value of the CPI in the base period O A. can be greater than, equal to, or less than 100 O B. is 100 no matter what reference base period is chosen C. changes when the reference base period changes D. is relevant only if the base period is within the last 10 yearsSuppose the economy operates and is in equilibrium as below. INFLATION RATE (по INFLATION RATE an LRAS X ELATION ww The following graphs represent the shocks in the economy: Panel 1 Panel 3. LRAS ж 1ELRAS AD SRAS (En-10) SRAS (En-10%) RIAL GO GROWTH RATE AD M + V = 13x) REAL GDP GROWTH RATE SPAS E-100 NAP M - V = 13:1). KA INPLATION RATE Panel2 LRAS Ж Panel 4 SRAS (En-10%) AV-13 REAL GOT GROWTH RATE
- Consumer Price Index SETTINGS 1960 300 280 260 240 220 200 180 160 140 120 100 80 60 40 20 Price Then ($) Price Now ($) GRAPH 1960 Year 1965 1970 1975 Show Transcribed Text 10.00 10.00 1984 1980 Reset 2016 1982-1984 = 100.00 1984 1985 1990 PRICE CALCULATIONS CPI = 105.30 1984 Price Then $10.00 1995 2000 Price Now $4.39 (CPI data not seasonally adjusted. Source: BLS) $22.79 O No, because the real value of her hourly wage has stayed the same. O No, because the real value of her hourly wage has fallen from $27.81 to $25.11. O Yes, because the real value of her hourly wage has risen from $25.11 to $27.81. O Yes, because she is earning more dollars per hour. $10.00 Year 2005 2010 2015 2020 a) How much would a worker have to be paid per hour in 2016 to keep her real wage the same as in 1980 if she earned $10 per hour in 1980? Instructions: Round your answer to two decimal places. $ b) A worker earned $10 a hour in 1980 and $14 an hour in 1990. Using the interactive tool to convert each of…Calculate the inflation rate experienced in 2014 and 2015 based on the CPI for each year below: Year CPI (as of December 31 of the year) Inflation rate (%) 2013 124.5 Not applicable for 2013 2014 125.2 ? 2015 127.5 ?The following data indicate the price indices of lumber (price index for the base period (1982-1984 = 100) during the last 10 years: Period Price Index 2001 164.5 2011 185.1(a) If the base period (price index= 100) is reset to the year 2001, compute the inflation rate for lumber between 2001 and 2009.(b) If the past trend is expected to continue, how would you estimate the price of lumber in 2014?
- Ansume that prices for the items below increaned at the average annual ratos shown in the table. Use the inflation proportion to find the missing price in the last column of the chart Average CPU 184.0 Year 2003 2017 245.1 Year Purchased 2003 Item Price Price in 2017 Evening dress $183 Complete the tuble Item Price Year Purchased Price in 2017 Evening dress (Round to the nearest dollar as needed) $183 2003 Enter your answer in the answer box.If the CPI in period 1 is 125 and the CPI in period 2 is 150, then the rate of inflationbetween period 1 and period 2 isA) 20%.B) 25%.C) 30%.D) 50%An economist predicts that the annual inflation rate will be 6% for 4 years and 8% for the next 6 years. Accordingly, what is the average annual price change forecast for the ten-year period? Lütfen birini seçin: a.2.003392 b.2.041727 c.2.080069 d.1.859389 e.1.894637
- C. Compute for the inflation rate.Use the information below to: a) compute the price index for each year using 2019 as the base year. b) compute the inflation rate between the two years. Item Quantity Unit Price-2018 Unit Price-2019 Coffee 20 pounds $7.00 $8.00 Rent 12 months 950.00 1,000.00 Pizza 100 pizzas 12.00 14.00 Cable 12 months 55.00 60.00 Vacation 2 weeks 550.00 600.00A 2¾ percent TIPS has an original reference CPI of 185.4. If the current CPI is 210.7, what is the par value and current interest payment of the TIPS? (Do not round intermediate calculations and round your final answers to 2 decimal places.)