Discuss two criticisms of the consumer price index (CPI)
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Discuss two criticisms of the consumer price index (CPI)
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- Find the mean hourly cost when the cell phone described above is used for 240 minutes.What is the definition of "median net worth?".The Consumer Price Index provides a means of determining the purchasing power of the U.S. dollar from one year to the next. To use the Consumer Price Index to predict a price in a particular year, we can set up a proportion and compare it with a known price in another year as follows:(price in year A)/(index in year A)=(price in year B)/(index in year B)In 1986 the Consumer Price Index was 109.6 and in 2010 it was 218.1. Find the amount that would be charged in 2010 for the use of the same amount of electricity that cost $110 in 1986. Give your answer to the nearest dollar.
- Real wage is a wage deflated by the current consumer price index. It gives information on how much current wage compares to the wage of given base year period. Real wage is obtained by dividing the nominal wage by the current Consumer Price Index (CPI) of a given month multiplied by 100. Table 1 below presents the real wage and nominal wage of non-agriculture workers in the Philippines as of December 2019 by region. Referring to the data, how many regions are below the 4th decile of the real wage?A. 4B. 5C. 6D. 7Referring to the data, how many regions are above the 80th percentile of the nominal wage?A. 4B. 5C. 6D. 7What do the Forecast for each year add up to?discuss the trend analysis of the oil palm pricing