1.The CPI in the base year is 2.The CPI in 2018 is 3.you learn next year (2019) that the CPI is 178. What is the inflation rate between 2018 and 2019?
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1.The CPI in the base year is
2.The CPI in 2018 is
3.you learn next year (2019) that the CPI is 178. What is the inflation rate between 2018 and 2019?
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- With in 1 or 2 percentage points, what has the U.S. inflation rate been during the last 20 years? Draw a graph to show the data.Describe a situation, either a government policy situation, an economic problem, or a private sector situation, where using the GDP deflator to convert from nominal to real would be more appropriate than using the CPI.Compute the inflation rate for fruit prices from 2001 to 2004.
- Construct the price index for a fruit basket in each year using 2003 as the base year.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.The base year for the index in the table below is: b C d Select an answer and submit For keyboard navigation, use the up/down arrow keys to select an answer year 1 year 2 year 3. year 4. Year CPI Nominal Income 1 96 Answered-Incorrect 1 attempt left 234 100 106 112 $46,080 $48,000 $53,000 $54,880 X Your answer Resubmit
- Infl. Year CPI Rate 2010 218.1 2011 224.9 3.1% 2012 229.6 2.1% 2013 233.0 1.5% 2014 236.7 ??? 2015 237.0 ??? 2016 240.0 ??? 2017 245.1 ??? a) Calculate the inflation rates for the years 2014-2017. b) Was there disinflation in those years? If so, in which year(s)?Fill in the table below Year CPI Nominal Wage Real Wage 1980 100 $6/hour ----- 1990 ----- $10/hour $8/hour 2000 150 ----- $7/hour show your calculation2019 2020Commodities Price Quantity Price QuantityA 3 30 5 25B 4 20 5 30C 20 18 25 25a) Using the data given above, compute the Nominal and Real GDP for 2019, and 2020. (The base year is 2019). b) Compute the inflation rate for the year 2020 by using the GDP deflator.
- The following graph shows the approximate value of the U.s. Consumer Price Index (CPI) from September 2004 through November 2005. CPI Sep 2004–Nov 2005 I(t) 202 200 198 196 194 192 190 + 188 →t 14 4 8 10 12 Sep-04 Jan-05 Nov-05 The approximating curve shown on the figure is given by I(t) = -0.005t³ + 0.12t2 – 0.01t + 190 (0 sts 14), where t is time in months since the start of September 2004. (a) Use the model to estimate the monthly inflation rate in January 2005 (t = 4). Recall that the inflation rate is I'(t) (Round your answer to three decimal places.) I(t) % (b) Was inflation slowing or speeding up in January 2005? O slowing down O speeding up (c) When was inflation speeding up? When was inflation slowing? (Use the model to determine this.) Inflation was speeding up prior to --Select--- v 2005 and slowing after --Select--- v 2005.Question 4 Between 2015 and 2016, the CPI of a small nation rose from 1.82 to 1.85. If household incomes rose by 3% during that period of time, which of the following is true? O The purchasing power of household income fell between 2015 and 2016. O The purchasing power of household income rose between 2015 and 2016. O The purchasing power of household income remained constant between 2015 and 2016. O The CPI cannot be used to determine how the purchasing power of household income changes over time.Year Cost of basket (R) of consumer goods / services Base Year 2018 1850 2019 2190 2020 2380 2021 2560 Use the information in Table 3-2 to measure the consumer price indexfor 2019, 2020 and 2021 respectively. Show your calculations and round off to two decimal places.