The GDP deflator in year 2 is Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a 177.2 b 125.7 с 95.4 d 105.8
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- Please no written by hand and no emage Fruit prices and the amounts consumed for 2010 and 2018 are shown. Use 2010 as the base. 2010 2018 Fruit Price Quantity Price Quantity Bananas (pound) $ 0.27 100 $ 0.30 110 Grapefruit (each) 0.26 50 0.63 53 Apples (pound) 0.34 85 0.49 85 Strawberries (basket) 1.01 8 2.47 11 Oranges (bag) 0.91 6 1.23 9 a. Determine the simple price indexes. (Round your answers to 2 decimal places.)Bananas,Grapefruit,Apples,Strawberries,Oranges b. Determine the simple aggregate price index for the two years. (Round your answer to 2 decimal places.)c. Determine the Laspeyres price index. (Round your answer to 2 decimal places.)d. Determine the Paasche price index. (Round your answer to 2 decimal places.)e. Determine Fisher's ideal index. (Round your answer to 2 decimal places.)The table below gives the price and consumption (usage/sales) for two products xand yfor four years. Using year 2000 as the base year calculate for each year, thea) Basic expenditure index b) Laspeyers price index, and c) Paasche price indexB3. The following table shows the gold prices in recent 4 years: Price Index (USS per ounce) (Base 2018) I2018 =? Price Year 2018 1328 2019 2020 1294 Iz019 =? 1562 I2020 =? 2021 I2021 =? 1949 (a) Calculate all the simple price indexes by using 2018 as the base year. (b) Calculate the percentage change from 2020 to 2021.
- Using your knowledge of price indexes, answer the following questions. (a) In a base year, what will the value of a price index always be? (b) If producers face rising costs of production, which price index will rise first? (c) Which price index captures changes in the largest variety of goods and services?Hanna, who is a 5-year-old girl, eats nothing but pasta, yogurt, and lemonade. Each month her parents buy 32 pounds of pasta, 79 packages of yogurt, and 22 bottles of lemonade. Hanna's parents have recorded the prices per unit of pasta, yogurt, and lemonade for the last four months, as shown in the table below. Hanna's Meals Month Pasta (dollars per pound) Yogurt (dollars per package) Lemonade (dollars per bottle) January $1.83 $1.14 $2.58 February 1.90 1.04 2.35 March 2.07 0.95 2.54 April 2.26 1.04 2.77 Instructions: Round your answers to two decimal places. a. Compute the total monthly cost of Hanna's meals and indicate whether inflation, deflation (negative inflation), or no inflation occurred during these months. In January, the total monthly cost was $. In February, the total monthly cost was $ and (Click to select). In March, the total monthly cost was $ and (Click to select). In April, the total monthly cost was $ and (Click to select). b. If Hanna's parents want to buy the same…See attachment. This is not a writing assignment. I need to understand the mathematical steps to calculate the continuous rate of wine consumption, and also the number of wine bottles being consumed in the 30th year.
- The price of wheat (per kg) is given for the vears 1964 to 1973. Calculate simple index numbers using insmeo i) 1964 as base year ii) average of the prices for the first five years as base iii) average of the prices of all the 10 years as base Year Price (Rs.) Year 1969 Price (Rs.) 27 1964 1965 1966 20 28 18 23 1970 1971 30 1967 32 24 25 1972 1973 1968 33Hanna, who is a 5-year-old girl, eats nothing but pasta, yogurt, and lemonade. Each month her parents buy 32 pounds of pasta, 79 packages of yogurt, and 22 bottles of lemonade. Hanna's parents have recorded the prices per unit of pasta, yogurt, and lemonade for the last four months, as shown in the table below. Hanna's Meals Month January February March April Pasta (dollars per Yogurt (dollars per pound) $1.83 1.90 2.07 2.26 package) $1.14 1.04 0.95 1.04 Lemonade (dollars per bottle) $2.58 2.35 Instructions: Round your answers to two decimal places. a. Compute the total monthly cost of Hanna's meals and indicate whether inflation, deflation (negative inflation), or no inflation occurred during these months. In January, the total monthly cost was $ In February, the total monthly cost was $ In March, the total monthly cost was $ In April, the total monthly cost was $ and (Click to select) b. If Hanna's parents want to buy the same quantity of pasta, yogurt, and lemonade, how much more…The 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 Quantity of Cereal Quantity of Milk Year Price of Cereal Price of Milk 2015 2016 $4.00 $1.50 100 120 180 200 $4.00 $2.00 2017 $5.00 150 $2.50 200 2018 $6.00 180 $3.50 240 1. Refer to Table 23-5. For each year listed, calculate real GDP and the GDP deflator, using 2015 as the base year. 2. Refer to Table 23-5. By how much did output grow from 2016 to 2017? 3. Refer to Table 23-5. What was this country's inflation rate from 2016 to 2017? From 2017 to 2018?
- Consumer Price Index SETTINGS 1960 300 280 260 240 220 200 180 160 140 120 100 80 60 40 20 Price Then ($) 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…Year Cost of a basket (R) of consumer goods/services (Base year ) 2015 1850 2016 2190 2017 2380 2018 2560 Use the information in Table 3 to measure the consumer price index for 2016, 2017 and 2018 respectively. Show your calculations and round off to two decimal places. Show how gross national product (GNI) can be derived from gross domestic product (GDP). Explain, with the aid of an equation, the components of the consumption function. Explain the relationship between Investment spending and the interest rate.A hypothetical country of Narnia produces only movies and popcorn. Quantities and prices of these goods for the last several years are shown in the following table. The base year is 2017. Year 2016 2017 2018 2019 Price (Dollars per movie) 7.6% 7.5% Movies 7.2% 7% 10.00 11.00 12.00 12.00 Quantity Quantity (Movies) (Dollars per bag) (Bags) 500 600 650 625 Popcorn Refer to Table 23-5. What was the rate of inflation for Narnia in 2019? (Hint: round-off to the nearest decimal point) Price 5 4 5 6 1,000 900 950 925