Perform these same calculations for 2018 and 2019, and enter the results in the following table. 2019 2017 2018 Cost Price Cost Price Cost Price (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) Quantity In Basket (Dollars) 8. 15 30 Notebooks 130 1 70 70 100 Calculators 250 2 500 2 Large coffees 6. Energy drinks 50 100 4 10 120 1,200 150 180 Textbooks Total cost 1,900 Price Index 100 Suppose the base year for this price index is 2017. In the last row of the table, calculate and enter the value of the CSPI for the remaining years. % Between 2018 and 2019, the CSPI increased by Between 2017 and 2018, the CSPI increased by

Tables 1 and 2 below are drawn from the article by Bunn P,. Ellis C., (2012), “How do individual UK producer prices behave?”, The Economic Journal, 122, 558, F16 – F34  The aim of the research is to investigate the frequency with which UK producer prices change. In order to carry out their investigation the researchers use microdata that underpin the UK Producer Prices Index collected each month by the Office for National Statistics. Why is this research of interest for macroeconomists in general and UK policy makers in particular?

Despite lower inflation figures posted by the Australian Bureau of Statistics in July, the price of some goods and services continue to increase. To answer the following questions, you will need to refer to the ABC News article by Morris (2023) which reports on the increase in chocolate prices, as well as undertake your own additional research. 1. Assuming that the domestic market for chocolate is perfectly competitive, use a generic market demand and supply diagram to: (a) Illustrate the domestic market for Chocolate in equilibrium, clearly label your diagram. (b) Explain, with the aid of a new diagram, the impact of the supply shock on the market for chocolate from part (a), assuming that consumer demand for chocolate was not affected. (c) Explain 3 reasons for the supply-side shock that were outlined in Morris (2023). Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure

A typical consumer in Lykesville has a market basket consisting of 4 strawberries, 9 grapefruits, and 5 blueberries. The data table below provides information on Lykesville's prices of strawberries, grapefruits, and blueberries from 2008 through 2010. 2008 2009 2010 unit of strawberries $1.1 $1.5 $1.2 Price per unit of grapefruits $1 Price per unit of blueberries $0.9 $1.2 Price per $1.4 $1.4 $2 What was the cost of the market basket in 2009? What was the price index in 2009, assuming 2008 is the base year?

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A Hershey Bar with 4 almonds sells for $1 in 2018. The same size Hershey Bar now has 3 almonds and still sells for $1. In real terms the price of the Hershey Bar

Consider an imaginary price index, the Undergraduate Price Index (UPI), created to represent the annual purchases made by a typical undergradute. The following table contains information on the market basket for the UPI and the price of each good in 2020, 2021, and 2022. The cost of each good in the basket as well as the basket’s total cost are given for 2020. Perform these same calculations for 2021 and 2022, and enter the results in the following table.   Quantity in Basket 2020 2021 2022 Price Cost Price Cost Price Cost (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) Streaming services 1 64 64 104   134   Iced coffees 150 2 300 2   2   Textbooks 10 80 800 85   105   Notebooks 8 2 16 2   4   Energy drinks 40 3 120 4   5   Total cost     1,300         Price index     100           Suppose this price index uses 2020 as the base year. In the last row of the table, calculate and…

Consider the pizza market in BC. Suppose an innovation in cheese processing technology makes it possible to produce more pizzas at a lower cost than ever before. Holding all other factors constant, What will be the effect of this technology on pizza market. Draw a graph and explain.

Suppose Congress enacts a tax reform law, and the average federal tax rate drops from 30% to 10%. Researchers investigate the impact of the tax cut and find that the income subject to the tax increases from $600 billion to $700 billion. The theoretical explanation is that workers have increased their work effort in response to the incentive of lower taxes. On the following graph, use the green point (triangle symbol) to plot the point corresponding to the income of $600 billion. Then use the orange point (square symbol) to plot the point corresponding to the income of $700 billion. FEDERAL TAX REVENUE (Billions of dollars) 220 200 180 160 140 120 100 + 80 - 60 + 40 + 20 0 0 10 O True 20 O False 30 40 50 60 70 80 FEDERAL TAX RATE (Percent) 90 Laffer Curve 100 110 "A Income $600 Income $700 True or False: The change in income is represented by a movement along the upward-sloping portion of the Laffer curve. ?