A one-pound bag of cookies cost 30 cents in 1922. If the CPI in 1922 was 17 and the CPI in 2014 is 230, convert the price of the cookies into 2014 prices. Group of answer choices A) $13.52 B) $0.02 C) $11.73 D) $4.06

If the CPI in 2011 was 136.6, determine the purchasing power of the dollar compared with the base year 2002 (CPI = 100).

Last year the jones family earned $40,000. This year their income is $42,000. If the inflation rate was 10%, did the jones family experience an increase/decrease/no change in their Normal income? Did the jones family experience an increase/decrease/no change in the real income ?

The price of a serving of McDonald's French fries in 1950 was 10¢. For simplicity, assume the price of a serving of McDonald's French fries today is $1.62, the CPI for 1950 is 23.5 and the CPI for today is 240.5. In terms of today's dollars, the real price of McDonald's French fries in 1950 was $ (Enter your response rounded to two decimal places.) Therefore in this example, the real price of McDonald's French fries has since 1950.

The price of gold (end-of-year closing price in dollars per troy ounce) is shown in the table below. The CPI index for the given years is shown to the right. Complete parts (a) through (c) below. Average Annual Consumer Price Index (CPI) Year 1986 1996 2006 2016 Year 1986 1996 2006 2016 CPI 109.6 156.9 201.6 240.0 Price $281 $434 $896 $1118 a. The prices shown in the table above are not adjusted for inflation. Revise the above table to express all prices in terms of 2016 dollars. Year 1986 1996 2006 2016 2016 2$ $4 Price (Round to the nearest cent as needed.)

In each of the following cases, explain clearly how the CPI might misrepresent changes in consumer prices (Commodity substitution bias, Introduction of new goods, or Un-measured quality changes). In each case, speculate as to whether CPI overstates or understates consumer expenses. (a) By 1990, expensive personal computers became a common expenditure in consumer baskets. However, some governments were still calculating the consumer’s basket using a 1975 survey. (b) Between 2007 and 2015, there were significant improvements in smartphones. (c) Compared to 1970, households in 2015 took more vacations. (d) Food quality has deteriorated over time, even as consumers purchase the same amount.

13. In 2018 your annual salary was $54,370 per year and the CPI was 133.4. In 2022 your annual salary was $59,140 and the CPI was 151.2. a. What should your annual salary have been in 2022 if your 2018 annual salary increased at the rate of inflation from 2018 to 2022? Round your answer to the nearest dollar. b. By what percent was your actual 2022 salary above or below your inflation adjusted salary from part (a)? You must specifically state whether it was above or below the inflation adjusted salary. (answer as a % to 2 decimals)

Name Owner File size Location 5. In December 2023, the CPI-U for all items was 306.746. Five years earlier, in December 2018, the CPI-U was 251.233. What was the percentage increase in the CPI-U during those five years?

Your salary is currently $95,000.  The CPI last year was 220 and the CPI today is 235.  What should your new salary equal once it is adjusted for inflation?   Question 10 options:   a)  $101,477   b)  $98,921   c)  $96,000   d)  $99, 557

7) In 2010, a bottle of Coke cost $1. In 2020, it would cost $1.50. The CPI for 2020 was 260 and the CPI for 2010 was 220. Which of the following statements is correct? A) The real price of Coke stayed the same. B) The real price of Coke decreased. C) The real price of Coke increased. D) The nominal price of Coke stayed the same.