Computing the cost of goods per basket , what is constant? A. Price of the current year B. Quantity of the base year C. Quantity of the current year
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- Calculate TR, MR and AR. Price () 4 7 Units sold 1 3 4HHI INDEX how much?A hypothetical country of Lahland produces only movies and popcorn. Quantities and prices of these goods for the last several years are shown below. The base year is 2019. (Please write the calculation details) (1) What were this country's nominal GDP in 2018, 2019 and 2020? (2) What were this country's real GDP in 2018, 2019 and 2020? (3) What were this country's GDP deflator in 2018, 2019 and 2020?
- Go to this website (http://www.measuringworth.com/ppowerus/) for the Purchasing Power Calculator at measuringWorth.com. How much money would it take today to purchase what one dollar would have bought in the year of your birth?The Consumer Price Index is subject to the substitution bias and me quality/new goods bias. Are the Producer Price index and the GDP deflator also subject to these biases? Why or why not?An economic variable is any economic measure that a.can vary over a range of values b.has a fixed value over time c.Has no effect on the economy d. None
- 00 ASAP PLZZThe country of Caspir produces only cereal and milk. Quantities and prices of these goods for the last several years are shown below. The base year is 2015. Prices and Quantities Year 2015 2016 2017 2018 Price of Cereal $4.00 $4.00 $5.00 $6.00 Quantity of Cereal 100 120 150 180 Refer to Table 23-5. In 2017, this country's Price of Milk $1.50 $2.00 $2.50 $3.50 O real GDP was $1250, and the GDP deflator was 138.9. O real GDP was $1250, and the GDP deflator was 128.0. O real GDP was $900, and the GDP deflator was 138.9. O real GDP was $900, and the GDP deflator was 128.0. Quantity of Milk 180 200 200 240Commodity Unit January February Маrch Аpril Мay ROOT CROPS 119,861 76,868 Carrots 97,887 62,325 17,883 9,815 31,248 41,805 122,180 79.998 Kg 32,432 54,453 Cassava Kg Kg Kg Kg Kg Kg Kg Kg 77,983 29,687 4,818 Common Yam Im ported y am Dasheen(Local) Dasheen(Im ported) Eddoes (Local) Eddoes (Imported) Sweet Potatoes (Local) Sweet Potatoes (Im ported) Ginger CONDIMENTS AND 16,235 1,906 19,492 20,413 18,210 4.798 40,674 68,625 363 37,506 57.7 80 28,321 26,325 24,887 29,952 36,180 27,253 23.580 30,835 12,263 27,792 36,450 22,770 16,560 9,280 156,648 125,726 6,480 140,389 195,121 65,380 1,980 Kg Kg 10,575 11,076 4.770 28,117 na 35.435 37.545 13,818 SPICES Celery Chive (L) Thy me (s) Hot Peppers (100's) Hot Peppers (40 lb) Shadon Beni Pimento (S) Bndl. 16,321 12,288 9,191 17,025 12,490 4,421 5,640 Bndl. 14,045 7,078 11,951 Bndl. 567 1,876 276 1,624 562 927 364 100's 1,194 1,225 531 Bag 2,235 2,222 1,693 1,976 835 Bndl. 48,632 35,340 26,375 61,240 30,050 100's 3,571 5,910 4,492 5.750 3.385…
- 4. What is the Consumer Price Index of the Philippines?Assume that for May 2021 the market for pimentos was under perfect competition with an industry price of $13.13 and quantity of 3,385 per 100 unis. i. Prove, with the aid of diagrams, that in the long run firms in the pimento industry will be experiencing normal profit. ii. Evaluate the likely effectiveness of THREE (3) changes that will be necessary for the pimento industry to move from perfect competition to oligopoly.When computing the cost of the basket of goods and services purchased by a typical consumer, which of the following changes from year to year? Select one: a.the quantities of the goods and services purchased b.the prices of the goods and services c.the goods and services making up the basket d.None of the answers are correct